Sei Investments Co. Sells 103,851 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Sei Investments Co. decreased its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,513,795 shares of the bank's stock after selling 103,851 shares during the period. Sei Investments Co.'s holdings in Itaú Unibanco were worth $14,680,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in Itaú Unibanco by 67.0% in the 1st quarter. GAMMA Investing LLC now owns 4,375 shares of the bank's stock valued at $30,000 after purchasing an additional 1,755 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Itaú Unibanco by 571.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 6,888 shares of the bank's stock valued at $48,000 after purchasing an additional 5,862 shares during the last quarter. Bessemer Group Inc. acquired a new stake in Itaú Unibanco in the 1st quarter valued at about $49,000. Dynamic Advisor Solutions LLC acquired a new stake in Itaú Unibanco in the 2nd quarter valued at about $65,000. Finally, Sunpointe LLC acquired a new stake in Itaú Unibanco in the 4th quarter valued at about $72,000.

Itaú Unibanco Trading Up 2.4 %

Shares of ITUB stock opened at $6.76 on Friday. The firm has a 50 day moving average price of $6.44 and a two-hundred day moving average price of $6.34. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.34. The company has a market capitalization of $66.25 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97. Itaú Unibanco Holding S.A. has a 12-month low of $5.12 and a 12-month high of $7.27.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.01. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. The company had revenue of $16.54 billion during the quarter, compared to the consensus estimate of $7.72 billion. During the same period in the previous year, the business earned $0.18 earnings per share. As a group, analysts predict that Itaú Unibanco Holding S.A. will post 0.78 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 2nd will be given a $0.0031 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. Itaú Unibanco's payout ratio is 48.65%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ITUB. UBS Group downgraded shares of Itaú Unibanco from a "buy" rating to a "neutral" rating in a research report on Thursday, August 22nd. Morgan Stanley upgraded shares of Itaú Unibanco from an "equal weight" rating to an "overweight" rating in a research report on Monday, June 17th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Itaú Unibanco presently has a consensus rating of "Hold" and an average price target of $7.05.

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.