State of New Jersey Common Pension Fund D Sells 1,216,220 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

State of New Jersey Common Pension Fund D trimmed its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 28.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,111,489 shares of the bank’s stock after selling 1,216,220 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Itaú Unibanco were worth $18,171,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ITUB. William Blair Investment Management LLC boosted its holdings in Itaú Unibanco by 191.9% in the first quarter. William Blair Investment Management LLC now owns 33,040,433 shares of the bank’s stock worth $228,968,000 after acquiring an additional 21,720,091 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Itaú Unibanco by 43.7% in the fourth quarter. Fisher Asset Management LLC now owns 52,322,490 shares of the bank’s stock worth $363,641,000 after acquiring an additional 15,908,536 shares in the last quarter. Carmignac Gestion bought a new stake in Itaú Unibanco in the fourth quarter worth $92,644,000. Capital Research Global Investors boosted its holdings in Itaú Unibanco by 460.6% in the first quarter. Capital Research Global Investors now owns 15,262,082 shares of the bank’s stock worth $105,766,000 after acquiring an additional 12,539,737 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Itaú Unibanco during the fourth quarter valued at $23,769,000.

Analyst Ratings Changes

ITUB has been the topic of a number of research analyst reports. UBS Group downgraded Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Morgan Stanley raised Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a report on Monday, June 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.05.

Itaú Unibanco Stock Performance

Shares of NYSE:ITUB opened at $6.62 on Friday. The company has a market cap of $64.88 billion, a P/E ratio of 8.95, a PEG ratio of 0.85 and a beta of 0.97. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.07 and a quick ratio of 1.07. Itaú Unibanco Holding S.A. has a 1 year low of $5.12 and a 1 year high of $7.27. The stock’s fifty day moving average price is $6.35 and its 200-day moving average price is $6.36.

Itaú Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 19.14% and a net margin of 11.39%. During the same quarter in the prior year, the business earned $0.18 earnings per share. Sell-side analysts expect that Itaú Unibanco Holding S.A. will post 0.78 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, November 8th. Investors 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 dividend payout ratio (DPR) is presently 48.65%.

Itaú Unibanco 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.