DnB Asset Management AS Sells 500 Shares of Itau Unibanco Banco Holding SA (ITUB)

DnB Asset Management AS decreased its position in shares of Itau Unibanco Banco Holding SA (NYSE:ITUB) by 0.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 53,016 shares of the bank’s stock after selling 500 shares during the period. DnB Asset Management AS’s holdings in Itau Unibanco Banco Holding SA were worth $586,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Federated Investors Inc. PA increased its position in shares of Itau Unibanco Banco Holding SA by 54.6% in the fourth quarter. Federated Investors Inc. PA now owns 26,704 shares of the bank’s stock worth $275,000 after buying an additional 9,427 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Itau Unibanco Banco Holding SA during the fourth quarter worth about $3,668,000. Dodge & Cox purchased a new position in shares of Itau Unibanco Banco Holding SA during the fourth quarter worth about $61,110,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Itau Unibanco Banco Holding SA during the fourth quarter valued at $357,000. Finally, Orbis Allan Gray Ltd increased its stake in shares of Itau Unibanco Banco Holding SA by 72.4% in the fourth quarter. Orbis Allan Gray Ltd now owns 28,070,118 shares of the bank’s stock valued at $288,561,000 after buying an additional 11,792,788 shares in the last quarter. Institutional investors and hedge funds own 5.39% of the company’s stock.

Shares of Itau Unibanco Banco Holding SA (ITUB) traded up 0.73% during midday trading on Friday, hitting $12.34. 6,119,261 shares of the company’s stock traded hands. Itau Unibanco Banco Holding SA has a 52 week low of $9.10 and a 52 week high of $13.65. The company has a 50 day moving average of $11.61 and a 200 day moving average of $11.93. The stock has a market cap of $80.19 billion, a P/E ratio of 10.59 and a beta of 1.61.

The firm also recently declared a special dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Thursday, August 17th will be issued a $0.1278 dividend. This is an increase from Itau Unibanco Banco Holding SA’s previous special dividend of $0.00. This represents a dividend yield of 0.45%. The ex-dividend date is Tuesday, August 15th. Itau Unibanco Banco Holding SA’s dividend payout ratio is 5.36%.

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Several brokerages have recently weighed in on ITUB. J P Morgan Chase & Co downgraded shares of Itau Unibanco Banco Holding SA from an “overweight” rating to a “neutral” rating and set a $12.50 price objective for the company. in a research report on Wednesday, July 12th. ValuEngine raised shares of Itau Unibanco Banco Holding SA from a “buy” rating to a “strong-buy” rating in a report on Friday, May 19th. Finally, Zacks Investment Research cut shares of Itau Unibanco Banco Holding SA from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th.

About Itau Unibanco Banco Holding SA

Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.

Institutional Ownership by Quarter for Itau Unibanco Banco Holding SA (NYSE:ITUB)

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