PNC Financial Services Group Inc. reduced its position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 4.7% during the second quarter, Holdings Channel reports. The institutional investor owned 17,469 shares of the company’s stock after selling 865 shares during the period. PNC Financial Services Group Inc.’s holdings in Itau Unibanco Holding were worth $164,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Emerald Acquisition Ltd. purchased a new position in Itau Unibanco Holding during the second quarter worth $155,679,000. Orbis Allan Gray Ltd purchased a new position in Itau Unibanco Holding during the first quarter worth $67,161,000. Wellington Management Group LLP increased its position in Itau Unibanco Holding by 3,678.5% in the first quarter. Wellington Management Group LLP now owns 8,002,786 shares of the company’s stock worth $68,743,000 after buying an additional 7,790,989 shares in the last quarter. Capital Fund Management S.A. purchased a new position in Itau Unibanco Holding during the second quarter worth $11,627,000. Finally, Harding Loevner LP increased its position in Itau Unibanco Holding by 2.4% in the second quarter. Harding Loevner LP now owns 48,899,596 shares of the company’s stock worth $461,623,000 after buying an additional 1,159,053 shares in the last quarter. 4.64% of the stock is currently owned by institutional investors.
Itau Unibanco Holding S.A. (NYSE:ITUB) traded down 0.26% on Friday, hitting $11.67. The stock had a trading volume of 6,135,994 shares. The company has a market cap of $69.20 billion, a price-to-earnings ratio of 8.77 and a beta of 1.81. The company has a 50 day moving average price of $11.10 and a 200-day moving average price of $9.73. Itau Unibanco Holding S.A. has a 52-week low of $5.48 and a 52-week high of $11.91.
Itau Unibanco Holding (NYSE:ITUB) last announced its earnings results on Wednesday, August 3rd. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.05. Itau Unibanco Holding had a return on equity of 19.19% and a net margin of 23.21%. On average, equities research analysts predict that Itau Unibanco Holding S.A. will post $1.07 earnings per share for the current year.
The business also recently announced a dividend, which was paid on Wednesday, October 5th. Stockholders of record on Wednesday, October 5th were paid a $0.005 dividend. The ex-dividend date of this dividend was Monday, October 3rd. Itau Unibanco Holding’s payout ratio is 4.10%.
ITUB has been the topic of a number of recent research reports. Goldman Sachs Group Inc. raised Itau Unibanco Holding from a “sell” rating to a “neutral” rating in a report on Tuesday, July 19th. JPMorgan Chase & Co. lowered their target price on Itau Unibanco Holding from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Tuesday, August 16th. Finally, Credit Suisse Group AG raised Itau Unibanco Holding from an “underperform” rating to a “neutral” rating in a report on Thursday, July 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $9.98.
Itau Unibanco Holding Company Profile
Itau Unibanco Holding SA (Itau Unibanco Holding) is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. It is engaged in banking activities, through its commercial, investment, real estate loan, finance and investment credit, and lease portfolios, including foreign exchange operations and other complementary activities.
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