Jane Street Group LLC Sells 1,043,464 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Jane Street Group LLC reduced its position in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 68.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 486,302 shares of the bank's stock after selling 1,043,464 shares during the period. Jane Street Group LLC's holdings in Itaú Unibanco were worth $3,232,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Itaú Unibanco by 8.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,287,191 shares of the bank's stock worth $28,510,000 after buying an additional 331,473 shares in the last quarter. Wexford Capital LP purchased a new position in Itaú Unibanco in the third quarter worth about $2,152,000. Two Sigma Advisers LP increased its stake in Itaú Unibanco by 38.8% during the third quarter. Two Sigma Advisers LP now owns 6,367,875 shares of the bank's stock worth $42,346,000 after acquiring an additional 1,779,300 shares during the last quarter. State Street Corp increased its stake in Itaú Unibanco by 7.4% during the third quarter. State Street Corp now owns 12,522,486 shares of the bank's stock worth $83,899,000 after acquiring an additional 861,500 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in Itaú Unibanco during the third quarter valued at approximately $68,000.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their target price on Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.50.

Itaú Unibanco Trading Up 1.0 %

NYSE:ITUB traded up $0.05 during mid-day trading on Friday, hitting $5.07. 46,523,211 shares of the stock traded hands, compared to its average volume of 19,656,461. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 2.28. Itaú Unibanco Holding S.A. has a 52 week low of $4.90 and a 52 week high of $7.27. The stock has a market capitalization of $49.69 billion, a price-to-earnings ratio of 6.50, a PEG ratio of 0.68 and a beta of 0.95. The firm's 50 day moving average is $5.83 and its two-hundred day moving average is $6.13.

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 (DPR) is presently 46.15%.

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.