Itau Unibanco Holding S.A. Lowers Stock Position in Comp En De Mn Cemig ADS $CIG

Itau Unibanco Holding S.A. lessened its holdings in shares of Comp En De Mn Cemig ADS (NYSE:CIG) by 33.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 987,314 shares of the utilities provider’s stock after selling 500,000 shares during the period. Itau Unibanco Holding S.A.’s holdings in Comp En De Mn Cemig ADS were worth $1,935,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CIG. GAMMA Investing LLC lifted its holdings in shares of Comp En De Mn Cemig ADS by 69.2% during the second quarter. GAMMA Investing LLC now owns 15,227 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 6,227 shares during the last quarter. Precision Wealth Strategies LLC purchased a new position in Comp En De Mn Cemig ADS during the second quarter valued at $154,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Comp En De Mn Cemig ADS by 7.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,815 shares of the utilities provider’s stock worth $203,000 after acquiring an additional 7,447 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Comp En De Mn Cemig ADS by 188.8% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 170,383 shares of the utilities provider’s stock worth $334,000 after acquiring an additional 111,394 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Comp En De Mn Cemig ADS by 2,157.2% during the second quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider’s stock valued at $4,571,000 after acquiring an additional 2,228,591 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Comp En De Mn Cemig ADS in a research report on Thursday. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Comp En De Mn Cemig ADS currently has an average rating of “Hold”.

Comp En De Mn Cemig ADS Trading Down 3.9%

Comp En De Mn Cemig ADS stock opened at $2.12 on Friday. Comp En De Mn Cemig ADS has a 52-week low of $1.59 and a 52-week high of $2.30. The company has a market cap of $6.05 billion, a P/E ratio of 9.61 and a beta of 1.12. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.45. The business has a 50-day simple moving average of $2.06 and a two-hundred day simple moving average of $1.96.

Comp En De Mn Cemig ADS (NYSE:CIG) last issued its quarterly earnings results on Thursday, August 14th. The utilities provider reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Comp En De Mn Cemig ADS had a net margin of 15.68% and a return on equity of 16.30%. Analysts predict that Comp En De Mn Cemig ADS will post 0.44 EPS for the current year.

Comp En De Mn Cemig ADS Company Profile

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.