As Itau Unibanco Hldg Sa (ITUB) Share Value Rose, Axiom International Investors LLC Cut Its Stake by $14.60 Million

April 24, 2018 - By Louis Casey

Itaú Unibanco Holding S.A. (NYSE:ITUB) Logo

Axiom International Investors Llc decreased its stake in Itau Unibanco Hldg Sa (ITUB) by 8.51% based on its latest 2017Q4 regulatory filing with the SEC. Axiom International Investors Llc sold 1.22M shares as the company’s stock rose 24.81% while stock markets declined. The institutional investor held 13.07M shares of the major banks company at the end of 2017Q4, valued at $169.94 million, down from 14.29M at the end of the previous reported quarter. Axiom International Investors Llc who had been investing in Itau Unibanco Hldg Sa for a number of months, seems to be less bullish one the $92.89 billion market cap company. The stock increased 0.24% or $0.04 during the last trading session, reaching $14.77. About 2.61 million shares traded. Itaú Unibanco Holding S.A. (NYSE:ITUB) has risen 32.34% since April 24, 2017 and is uptrending. It has outperformed by 20.79% the S&P500.

Axiom International Investors Llc, which manages about $10.22B and $3.99B US Long portfolio, upped its stake in Encana Corp (NYSE:ECA) by 244,616 shares to 1.98M shares, valued at $26.38M in 2017Q4, according to the filing.

Analysts await Itaú Unibanco Holding S.A. (NYSE:ITUB) to report earnings on May, 2. They expect $0.29 earnings per share, 0.00 % or $0.00 from last year’s $0.29 per share. ITUB’s profit will be $1.82 billion for 12.73 P/E if the $0.29 EPS becomes a reality. After $0.26 actual earnings per share reported by Itaú Unibanco Holding S.A. for the previous quarter, Wall Street now forecasts 11.54 % EPS growth.

Itaú Unibanco Holding S.A. (NYSE:ITUB) Ratings Coverage

Among 2 analysts covering Itau Unibanco (NYSE:ITUB), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Itau Unibanco had 2 analyst reports since December 11, 2017 according to SRatingsIntel. Deutsche Bank upgraded the shares of ITUB in report on Monday, December 11 to “Buy” rating. On Monday, March 5 the stock rating was upgraded by Credit Suisse to “Buy”.

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