Carmignac Gestion Buys 3,589,092 Shares of Itau Unibanco Holding S.A. $ITUB

Carmignac Gestion raised its stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 41.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,219,314 shares of the bank’s stock after buying an additional 3,589,092 shares during the quarter. Itau Unibanco comprises 1.3% of Carmignac Gestion’s portfolio, making the stock its 22nd largest holding. Carmignac Gestion’s holdings in Itau Unibanco were worth $99,832,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nykredit A S purchased a new position in Itau Unibanco during the second quarter valued at approximately $6,000,000. Amundi increased its holdings in Itau Unibanco by 32.1% during the 2nd quarter. Amundi now owns 5,286,501 shares of the bank’s stock worth $43,191,000 after acquiring an additional 1,283,503 shares during the period. HighTower Advisors LLC lifted its stake in Itau Unibanco by 24.2% in the 2nd quarter. HighTower Advisors LLC now owns 32,518 shares of the bank’s stock worth $266,000 after purchasing an additional 6,337 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in Itau Unibanco by 6.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 3,536,156 shares of the bank’s stock worth $28,890,000 after purchasing an additional 223,846 shares in the last quarter. Finally, XP Advisory US Inc. purchased a new stake in Itau Unibanco in the 2nd quarter worth approximately $300,000.

Insider Buying and Selling

In other Itau Unibanco news, insider Vanzo Orestes sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $8.24, for a total value of $494,400.00. Following the completion of the transaction, the insider 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. 0.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ITUB. Weiss Ratings lowered shares of Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. increased their price objective on Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Itau Unibanco Price Performance

Shares of ITUB traded up $0.14 during trading hours on Tuesday, reaching $8.29. 24,858,234 shares of the company’s stock traded hands, compared to its average volume of 23,971,240. Itau Unibanco Holding S.A. has a 12 month low of $6.54 and a 12 month high of $9.60. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 2.44. The stock has a market cap of $91.88 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. The firm’s 50 day simple moving average is $8.02 and its 200-day simple moving average is $8.22.

Itau Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Tuesday, August 4th. The bank reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The company had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $9.29 billion. Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%. Equities analysts expect that Itau Unibanco Holding S.A. will post 0.88 EPS for the current year.

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.