Aigen Investment Management LP Sells 86,248 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Aigen Investment Management LP lowered its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 64.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,517 shares of the bank's stock after selling 86,248 shares during the period. Aigen Investment Management LP's holdings in Itaú Unibanco were worth $323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp grew its position in Itaú Unibanco by 68.5% in the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank's stock valued at $38,000 after purchasing an additional 2,469 shares during the period. Bessemer Group Inc. acquired a new position in shares of Itaú Unibanco during the first quarter valued at about $49,000. Dynamic Advisor Solutions LLC bought a new stake in shares of Itaú Unibanco during the second quarter worth about $65,000. Daymark Wealth Partners LLC acquired a new stake in shares of Itaú Unibanco in the 3rd quarter worth about $68,000. Finally, Wealth Advisory Solutions LLC bought a new position in Itaú Unibanco in the 2nd quarter valued at about $83,000.

Wall Street Analysts Forecast Growth

ITUB has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. UBS Group lowered Itaú Unibanco from a "buy" rating to a "neutral" rating in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $7.50.

Itaú Unibanco Stock Performance

Shares of Itaú Unibanco stock traded up $0.05 during mid-day trading on Friday, hitting $5.96. 13,673,367 shares of the stock were exchanged, compared to its average volume of 18,261,381. Itaú Unibanco Holding S.A. has a 12 month low of $5.62 and a 12 month high of $7.27. The company has a 50-day simple moving average of $6.35 and a 200 day simple moving average of $6.26. The company has a market capitalization of $58.41 billion, a P/E ratio of 7.64, a P/E/G ratio of 0.77 and a beta of 0.98. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.75 and a current ratio of 1.75.

Itaú Unibanco Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 2nd will be given a $0.0031 dividend. The ex-dividend date is Monday, December 2nd. Itaú Unibanco's dividend payout ratio is currently 3.85%.

Itaú Unibanco Company Profile

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.