Envestnet Asset Management Inc. Sells 140,936 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Envestnet Asset Management Inc. decreased its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 11.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,052,062 shares of the bank's stock after selling 140,936 shares during the period. Envestnet Asset Management Inc.'s holdings in Itaú Unibanco were worth $5,218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ITUB. Headlands Technologies LLC grew its position in Itaú Unibanco by 39.6% in the fourth quarter. Headlands Technologies LLC now owns 168,458 shares of the bank's stock worth $836,000 after acquiring an additional 47,798 shares in the last quarter. Franklin Resources Inc. lifted its stake in Itaú Unibanco by 1.8% during the fourth quarter. Franklin Resources Inc. now owns 28,389,460 shares of the bank's stock worth $140,812,000 after purchasing an additional 489,873 shares during the last quarter. Brandywine Global Investment Management LLC boosted its holdings in shares of Itaú Unibanco by 82.5% in the 4th quarter. Brandywine Global Investment Management LLC now owns 600,759 shares of the bank's stock worth $2,980,000 after purchasing an additional 271,550 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Itaú Unibanco by 9.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 48,018,726 shares of the bank's stock valued at $238,173,000 after purchasing an additional 4,151,459 shares during the last quarter. Finally, Ramirez Asset Management Inc. raised its holdings in shares of Itaú Unibanco by 1.3% during the 4th quarter. Ramirez Asset Management Inc. now owns 1,282,897 shares of the bank's stock valued at $6,363,000 after buying an additional 15,955 shares in the last quarter.

Itaú Unibanco Price Performance

Shares of Itaú Unibanco stock opened at $5.87 on Wednesday. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.34 and a quick ratio of 1.75. Itaú Unibanco Holding S.A. has a one year low of $4.42 and a one year high of $6.30. The business's 50 day simple moving average is $5.41 and its two-hundred day simple moving average is $5.24. The stock has a market capitalization of $63.28 billion, a P/E ratio of 7.53, a price-to-earnings-growth ratio of 0.89 and a beta of 0.65.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last issued its earnings results on Thursday, February 6th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Itaú Unibanco had a return on equity of 19.46% and a net margin of 12.25%. Analysts forecast that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itaú Unibanco Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a $0.0527 dividend. This is a boost from Itaú Unibanco's previous dividend of $0.00. The ex-dividend date was Wednesday, February 19th. Itaú Unibanco's payout ratio is presently 2.82%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ITUB. HSBC raised Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.18 target price for the company in a research note on Monday, January 13th. Hsbc Global Res raised shares of Itaú Unibanco to a "strong-buy" rating in a research note on Monday, January 13th. Finally, UBS Group upgraded shares of Itaú Unibanco from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Itaú Unibanco presently has a consensus rating of "Buy" and a consensus price target of $6.27.

Itaú Unibanco 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.

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