Renaissance Technologies LLC Has $41.02 Million Stock Position in Itau Unibanco Holding S.A. $ITUB

Renaissance Technologies LLC reduced its position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 43.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,894,713 shares of the bank’s stock after selling 3,711,668 shares during the quarter. Renaissance Technologies LLC’s holdings in Itau Unibanco were worth $41,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orbis Allan Gray Ltd raised its holdings in Itau Unibanco by 104.3% in the 2nd quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank’s stock worth $574,053,000 after acquiring an additional 43,153,787 shares during the period. Viking Global Investors LP bought a new stake in Itau Unibanco during the fourth quarter valued at about $203,319,000. Samlyn Capital LLC acquired a new stake in shares of Itau Unibanco in the third quarter valued at about $99,388,000. Boston Partners grew its position in shares of Itau Unibanco by 1,667.7% in the third quarter. Boston Partners now owns 12,413,727 shares of the bank’s stock valued at $91,117,000 after purchasing an additional 11,711,487 shares during the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of Itau Unibanco by 24.0% in the fourth quarter. William Blair Investment Management LLC now owns 36,551,763 shares of the bank’s stock worth $261,679,000 after purchasing an additional 7,081,568 shares during the period.

Insider Buying and Selling at Itau Unibanco

In related news, insider Vanzo Carlos Orestes sold 60,000 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $8.24, for a total value of $494,400.00. Following the completion of the sale, the insider owned 1,008,014 shares in the company, valued at approximately $8,306,035.36. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Itau Unibanco Price Performance

NYSE:ITUB opened at $8.37 on Tuesday. The stock has a market cap of $92.65 billion, a P/E ratio of 11.47, a PEG ratio of 0.89 and a beta of 0.58. Itau Unibanco Holding S.A. has a one year low of $5.93 and a one year high of $9.60. The company has a fifty day moving average price of $8.04 and a 200 day moving average price of $8.34. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.79 and a quick ratio of 1.79.

Itau Unibanco (NYSE:ITUB) last issued its quarterly earnings results on Tuesday, May 5th. The bank reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The company had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $9.41 billion. Itau Unibanco had a net margin of 27.27% and a return on equity of 21.27%. Analysts anticipate that Itau Unibanco Holding S.A. will post 0.89 earnings per share for the current year.

Itau Unibanco Announces Dividend

The business also recently announced a special dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, June 22nd will be paid a $0.068 dividend. The ex-dividend date is Monday, June 22nd. Itau Unibanco’s dividend payout ratio (DPR) is presently 4.11%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ITUB. Weiss Ratings reissued a “buy (b)” rating on shares of Itau Unibanco in a research report on Wednesday, June 17th. JPMorgan Chase & Co. raised their target price on Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $10.00.

About Itau Unibanco

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.