Macquarie Group Reduces Holdings in Itaú Unibanco; Company Announces Dividend Distribution

Itaú Unibanco Holding S.A. (NYSE:ITUB), a leading financial institution offering various financial products and services to both individuals and corporate customers in Brazil and abroad, recently experienced a slight decrease in its shareholder base. Macquarie Group Ltd., through its recent Form 13F filing with the Securities & Exchange Commission, reported a reduction of 1.7% in its holdings of Itaú Unibanco during the first quarter of this year.

Macquarie Group Ltd.’s position in Itaú Unibanco dropped by selling 169,790 shares, leaving it with 9,539,316 shares at the end of the reporting period. With this decrease, Macquarie Group Ltd. now owns approximately 0.10% of Itaú Unibanco’s outstanding shares, which translates to an estimated worth of $46,457,000.

It is important to note that despite the reduction in ownership by Macquarie Group Ltd., Itaú Unibanco remains a strong player in the financial industry with a diverse range of offerings across three main segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation.

Within these segments, Itaú Unibanco provides comprehensive services such as current accounts, loans, credit and debit cards, investment and commercial banking services, real estate lending services, financing and investment services, economic, financial and brokerage advisory services, leasing facilities as well as foreign exchange solutions for its clients.

Moreover, Itaú Unibanco has also made headlines recently by announcing its monthly dividend distribution schedule. Shareholders who are on record as of Tuesday, October 3rd will receive a dividend payout of $0.003 per share on Monday November 13th. The ex-dividend date for this particular dividend payout is Monday October 2nd. With an annualized dividend rate of $0.04 per share and a yield of 0.64%, Itaú Unibanco’s payout ratio stands at 4.84% – an attractive prospect for investors seeking dividend income.

These developments highlight the ongoing resilience and commitment of Itaú Unibanco to deliver value to its shareholders and customers. By constantly adjusting its shareholder base, along with its diverse range of financial services, Itaú Unibanco continues to position itself as a formidable force within the global banking industry.

Itaú Unibanco Holding S.A.


Strong Buy

Updated on: 16/09/2023

Price Target

Current $5.63

Concensus $5.75

Low $0.00

Median $5.75

High $0.00

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Social Sentiments

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Analyst Ratings

Analyst / firm Rating
Goldman Sachs Buy
Gilberto Garcia

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Unraveling the Enigma: Decoding Hedge Fund Movements in Itaú Unibanco

Article Perplexing Movements in Hedge Fund Holdings of Itaú Unibanco

Date: September 15, 2023

In a surprising turn of events, several hedge funds have recently made notable transactions involving shares of Itaú Unibanco Holding S.A. (ITUB). The complexity and dynamic nature of these movements have left industry analysts pondering the underlying motivations and implications for the Brazilian banking giant.

One such hedge fund, HBK Sorce Advisory LLC, exhibited a perplexing increase of 2.5% in its holdings during the first quarter. This resulted in the acquisition of an additional 2,000 shares, bringing their total ownership to 82,302 shares valued at $601,000. Similarly, Wealth Alliance saw its stake rise by 3.8%, accumulating an extra 2,002 shares worth $264,000 over the same period. Furthermore, Alterna Wealth Management Inc., with an increase of 5.0%, now possesses 44,338 shares valued at $216,000. Cubist Systematic Strategies LLC similarly raised its holdings by 3.3%, acquiring an extra 2,347 shares priced at $385,000. Lastly, Vanguard Personalized Indexing Management LLC bolstered their position by a significant 9.8%, equating to an additional 2,491 shares valued at $136,000.

These diversified movements leave observers puzzling over the varying strategies adopted by different hedge funds concerning Itaú Unibanco’s stock. While some opt for gradual increases in holdings like Alterna Wealth Management Inc., others prefer more robust escalations akin to HBK Sorce Advisory LLC and Vanguard Personalized Indexing Management LLC.

As ITUB opens trading on Friday at $5.64 per share—an event that itself has yielded considerable anticipation—observers might be further bewildered by the contrast between the company’s one-year low of $4.21 and its one-year high of $6.15. Itaú Unibanco Holding S.A., with a market capitalization of $55.27 billion, exhibits relevant financial indicators such as a price-to-earnings ratio of 9.10, a PEG (price/earnings to growth) ratio of 0.63, and a beta of 0.72. These intricacies add to the convoluted nature of the hedge funds’ recent actions.

It is vital to analyze the company’s structure to comprehend its appeal to hedge funds and investors alike. Itaú Unibanco operates through three primary segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. Within these areas, it offers a vast array of financial products and services catering to both individuals and corporate customers in Brazil as well as abroad. This comprehensive portfolio encompasses current accounts, loans, credit and debit cards, investment banking services, real estate lending, financing options, advisory services, leasing arrangements, and foreign exchange operations.

In light of these developments surrounding Itaú Unibanco’s stock movements, Morgan Stanley recently downgraded its rating for the company from “overweight” to “equal weight” on May 19th in a research note.

Though industry insiders remain befuddled by this series of events involving hedge fund movements in Itaú Unibanco stocks, observers eagerly anticipate the latest stock report regarding the bank’s standing—an announcement that promises further insight into this compelling situation.

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