Wellington Management Group LLP Lowers Stock Position in Itau Unibanco Holding S.A. $ITUB

Wellington Management Group LLP reduced its position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 79.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,235,553 shares of the bank’s stock after selling 12,192,219 shares during the period. Wellington Management Group LLP’s holdings in Itau Unibanco were worth $26,434,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Orbis Allan Gray Ltd increased its stake in Itau Unibanco by 104.3% in the 2nd quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank’s stock valued at $574,053,000 after buying an additional 43,153,787 shares during the last quarter. Viking Global Investors LP purchased a new position in shares of Itau Unibanco in the 4th quarter worth approximately $203,319,000. Samlyn Capital LLC purchased a new position in shares of Itau Unibanco in the 3rd quarter worth approximately $99,388,000. Bank of America Corp DE grew its holdings in shares of Itau Unibanco by 111.9% in the second quarter. Bank of America Corp DE now owns 22,293,618 shares of the bank’s stock valued at $182,139,000 after acquiring an additional 11,771,394 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Itau Unibanco by 1,667.7% in the third quarter. Boston Partners now owns 12,413,727 shares of the bank’s stock valued at $91,117,000 after acquiring an additional 11,711,487 shares in the last quarter.

Analysts Set New Price Targets

ITUB has been the topic of a number of recent analyst reports. Weiss Ratings lowered Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Itau Unibanco has an average rating of “Moderate Buy” and an average price target of $10.00.

Itau Unibanco Stock Performance

Shares of ITUB stock opened at $8.15 on Friday. The firm’s 50 day moving average is $8.02 and its 200 day moving average is $8.24. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 2.44. Itau Unibanco Holding S.A. has a 12 month low of $6.54 and a 12 month high of $9.60. The stock has a market capitalization of $90.27 billion, a P/E ratio of 10.66, a PEG ratio of 0.88 and a beta of 0.56.

Itau Unibanco (NYSE:ITUB) last posted its quarterly earnings results on Tuesday, August 4th. The bank reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The company had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $9.29 billion. Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%. On average, sell-side analysts anticipate that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current year.

Insider Transactions at Itau Unibanco

In related news, insider Vanzo Orestes sold 60,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total value of $494,400.00. Following the sale, the insider owned 1,008,014 shares in the company, valued at approximately $8,306,035.36. This trade represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.61% of the stock is owned by corporate insiders.

About Itau Unibanco

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.