Sompo Asset Management Co. Ltd. Has $195,000 Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Sompo Asset Management Co. Ltd. cut its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 7.2% during the second quarter, HoldingsChannel reports. The fund owned 33,430 shares of the bank’s stock after selling 2,590 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Itaú Unibanco were worth $195,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Fisher Asset Management LLC increased its position in Itaú Unibanco by 43.7% during the fourth quarter. Fisher Asset Management LLC now owns 52,322,490 shares of the bank’s stock worth $363,641,000 after buying an additional 15,908,536 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Itaú Unibanco by 14.8% during the second quarter. William Blair Investment Management LLC now owns 37,928,532 shares of the bank’s stock valued at $221,505,000 after purchasing an additional 4,888,099 shares in the last quarter. Capital Research Global Investors boosted its holdings in Itaú Unibanco by 460.6% during the first quarter. Capital Research Global Investors now owns 15,262,082 shares of the bank’s stock valued at $105,766,000 after purchasing an additional 12,539,737 shares in the last quarter. Carmignac Gestion acquired a new stake in Itaú Unibanco during the fourth quarter valued at approximately $92,644,000. Finally, Northcape Capital Pty Ltd raised its stake in shares of Itaú Unibanco by 5.7% in the second quarter. Northcape Capital Pty Ltd now owns 9,564,344 shares of the bank’s stock valued at $55,856,000 after acquiring an additional 519,529 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research note on Monday, June 17th. UBS Group cut shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.05.

Itaú Unibanco Stock Performance

Shares of Itaú Unibanco stock opened at $6.51 on Friday. The firm has a fifty day moving average of $6.42 and a two-hundred day moving average of $6.35. The stock has a market capitalization of $63.80 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 0.85 and a beta of 0.97. Itaú Unibanco Holding S.A. has a 52 week low of $5.12 and a 52 week high of $7.27. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.07.

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

Itaú Unibanco Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.0031 per share. The ex-dividend date is Wednesday, October 2nd. Itaú Unibanco’s payout ratio is 48.65%.

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.