Mirae Asset Global Investments Co. Ltd. Sells 61,927 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,000,361 shares of the bank’s stock after selling 61,927 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Itaú Unibanco were worth $6,652,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. increased its position in shares of Itaú Unibanco by 571.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,888 shares of the bank’s stock worth $48,000 after acquiring an additional 5,862 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of Itaú Unibanco during the first quarter worth $49,000. Dynamic Advisor Solutions LLC bought a new stake in shares of Itaú Unibanco during the second quarter worth $65,000. Daymark Wealth Partners LLC bought a new stake in shares of Itaú Unibanco during the third quarter worth $68,000. Finally, Wealth Advisory Solutions LLC bought a new stake in shares of Itaú Unibanco during the second quarter worth $83,000.

Analysts Set New Price Targets

Separately, UBS Group downgraded shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd.

Itaú Unibanco Stock Performance

Shares of ITUB opened at $6.29 on Tuesday. Itaú Unibanco Holding S.A. has a 12 month low of $5.27 and a 12 month high of $7.27. The firm has a fifty day simple moving average of $6.51 and a 200 day simple moving average of $6.27. The stock has a market capitalization of $61.65 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 0.80 and a beta of 0.97. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34.

Itaú Unibanco (NYSE:ITUB) last announced its earnings results on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. The business had revenue of $16.54 billion during the quarter, compared to analysts’ expectations of $7.72 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. Research analysts forecast that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 2nd will be paid a $0.0031 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio is currently 4.05%.

About Itaú Unibanco

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.