Genesis Asset Managers Llp Decreased Stake in Banco Santander Brasil (NYSE:BSBR) by $75.30 Million as Shares Rose


Genesis Asset Managers Llp decreased its stake in Banco Santander Brasil (NYSE:BSBR) by 50.87% based on its latest 2016Q2 regulatory filing with the SEC. Genesis Asset Managers Llp sold 18.83M shares as the company’s stock rose 24.00% with the market. The institutional investor held 18.18M shares of the commercial banks company at the end of 2016Q2, valued at $84.54 million, down from 37.01 million at the end of the previous reported quarter. Genesis Asset Managers Llp who had been investing in Banco Santander Brasil for a number of months, seems to be less bullish one the $24.98 billion market cap company. The stock is down 5.31% or $0.37 after the negative news, hitting $6.51 per share. About 1.01 million shares traded hands. Banco Santander Brasil SA (ADR) (NYSE:BSBR) has risen 105.99% since February 8, 2016 and is uptrending. It has outperformed by 89.50% the S&P500.

Genesis Asset Managers Llp is a United Kingdom-based institutional investor with more than $36.75 billion AUM in September, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Genesis Asset Managers latest Adv, the fund reported to have 74 full and part-time employees. Among which 11 performing investment advisory and research functions. The institutional investor had between 26-100 clients.

Out of 2 analysts covering Banco Santander Brasil (NYSE:BSBR), 0 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 0 are positive. Banco Santander Brasil has been the topic of 2 analyst reports since November 12, 2015 according to StockzIntelligence Inc. HSBC downgraded the stock on January 19 to “Reduce” rating.

Banco Santander S.A. (Santander Brasil) is indirectly controlled by Banco Santander, S.A., and is an institution of the financial and non-financial group. The company has a market cap of $24.98 billion. The Bank operates as a multiple bank. It has a 23.35 P/E ratio. The Bank operates through two divisions: Commercial Banking and Global Wholesale Banking.

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