Carmignac Gestion Sells 577,333 Shares of Itau Unibanco Holding S.A. $ITUB

Carmignac Gestion reduced its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,891,740 shares of the bank’s stock after selling 577,333 shares during the quarter. Itau Unibanco makes up approximately 1.4% of Carmignac Gestion’s holdings, making the stock its 23rd largest holding. Carmignac Gestion’s holdings in Itau Unibanco were worth $87,405,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ITUB. Parallel Advisors LLC grew its holdings in shares of Itau Unibanco by 707.1% in the 1st quarter. Parallel Advisors LLC now owns 7,740 shares of the bank’s stock valued at $43,000 after acquiring an additional 6,781 shares in the last quarter. Alta Capital Management LLC bought a new stake in shares of Itau Unibanco during the first quarter worth $62,000. Tuttle Capital Management LLC bought a new stake in shares of Itau Unibanco in the first quarter worth $67,000. Waverly Advisors LLC bought a new position in shares of Itau Unibanco in the 4th quarter worth about $67,000. Finally, Avantax Advisory Services Inc. raised its holdings in shares of Itau Unibanco by 21.6% during the first quarter. Avantax Advisory Services Inc. now owns 13,890 shares of the bank’s stock valued at $76,000 after purchasing an additional 2,468 shares during the period.

Itau Unibanco Stock Performance

Shares of NYSE ITUB opened at $6.96 on Tuesday. The firm has a market capitalization of $75.04 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 1.06 and a beta of 0.74. Itau Unibanco Holding S.A. has a 12-month low of $4.42 and a 12-month high of $7.13. The firm has a 50 day moving average of $6.61 and a 200 day moving average of $6.08. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39.

Itau Unibanco (NYSE:ITUB) last released its earnings results on Tuesday, August 5th. The bank reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $44.75 billion. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. On average, research analysts anticipate that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itau Unibanco Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.0024 per share. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a yield of 43.0%. Itau Unibanco’s dividend payout ratio (DPR) is presently 4.23%.

Wall Street Analyst Weigh In

Separately, UBS Group reaffirmed a “neutral” rating on shares of Itau Unibanco in a research report on Thursday, July 10th.

Itau 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.