INCA Investments LLC Has $6.56 Million Stock Holdings in Itau Unibanco Holding S.A. $ITUB

INCA Investments LLC lessened its stake in Itau Unibanco Holding S.A. (NYSE:ITUB) by 14.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 783,087 shares of the bank’s stock after selling 128,290 shares during the quarter. Itau Unibanco makes up 2.3% of INCA Investments LLC’s holdings, making the stock its 9th largest holding. INCA Investments LLC’s holdings in Itau Unibanco were worth $6,562,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ITUB. Royal Bank of Canada increased its stake in Itau Unibanco by 11.7% during the 1st quarter. Royal Bank of Canada now owns 445,578 shares of the bank’s stock valued at $2,450,000 after purchasing an additional 46,608 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Itau Unibanco by 28.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,996,699 shares of the bank’s stock worth $27,482,000 after buying an additional 1,107,607 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Itau Unibanco by 332.4% during the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after buying an additional 5,355 shares during the last quarter. Guggenheim Capital LLC increased its position in shares of Itau Unibanco by 11.7% during the second quarter. Guggenheim Capital LLC now owns 118,405 shares of the bank’s stock valued at $804,000 after acquiring an additional 12,442 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Itau Unibanco by 425.3% in the 2nd quarter. First Trust Advisors LP now owns 356,467 shares of the bank’s stock worth $2,420,000 after acquiring an additional 288,602 shares during the last quarter.

Insider Activity

In other news, insider Vanzo Carlos Orestes sold 60,000 shares of Itau Unibanco stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total transaction of $494,400.00. Following the transaction, the insider directly owned 1,008,014 shares of the company’s stock, valued at $8,306,035.36. The trade was a 5.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Fajerman Sergio Guillinet sold 39,477 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $9.53, for a total transaction of $376,215.81. Following the completion of the sale, the insider directly owned 1,205,642 shares of the company’s stock, valued at $11,489,768.26. This represents a 3.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 169,477 shares of company stock valued at $1,528,616 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

Itau Unibanco Stock Performance

Shares of ITUB opened at $8.28 on Friday. The firm has a market capitalization of $91.66 billion, a P/E ratio of 11.35, a PEG ratio of 0.88 and a beta of 0.58. 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 Holding S.A. has a one year low of $5.93 and a one year high of $9.60. The business has a fifty day moving average of $8.00 and a 200 day moving average of $8.23.

Itau Unibanco (NYSE:ITUB) last posted its 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 firm 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%. As a group, sell-side analysts anticipate that Itau Unibanco Holding S.A. will post 0.89 EPS for the current year.

Itau Unibanco Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, September 8th. Stockholders 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 is 4.11%.

Analyst Upgrades and Downgrades

Several analysts have commented on ITUB shares. Zacks Research downgraded Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itau Unibanco in a report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. increased their price objective on Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.00.

Itau Unibanco Profile

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.