Russell Investments Group Ltd. Raises Holdings in Itau Unibanco Banco Holding SA (ITUB)

Russell Investments Group Ltd. boosted its position in Itau Unibanco Banco Holding SA (NYSE:ITUB) by 9.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,017,913 shares of the bank’s stock after buying an additional 905,027 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.15% of Itau Unibanco Banco Holding SA worth $137,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Kiwi Wealth Investments Limited Partnership boosted its stake in Itau Unibanco Banco Holding SA by 107.0% in the third quarter. Kiwi Wealth Investments Limited Partnership now owns 311,938 shares of the bank’s stock worth $4,274,000 after buying an additional 161,246 shares in the last quarter. Comerica Bank boosted its stake in Itau Unibanco Banco Holding SA by 2.0% in the third quarter. Comerica Bank now owns 218,760 shares of the bank’s stock worth $2,872,000 after buying an additional 4,202 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Itau Unibanco Banco Holding SA by 12.3% in the third quarter. Bank of New York Mellon Corp now owns 145,122 shares of the bank’s stock worth $1,988,000 after buying an additional 15,844 shares in the last quarter. Sei Investments Co. boosted its stake in Itau Unibanco Banco Holding SA by 8.3% in the third quarter. Sei Investments Co. now owns 1,187,403 shares of the bank’s stock worth $16,268,000 after buying an additional 91,015 shares in the last quarter. Finally, FDx Advisors Inc. boosted its stake in Itau Unibanco Banco Holding SA by 24.4% in the third quarter. FDx Advisors Inc. now owns 74,909 shares of the bank’s stock worth $1,026,000 after buying an additional 14,713 shares in the last quarter. 4.80% of the stock is owned by institutional investors and hedge funds.

Several brokerages have issued reports on ITUB. ValuEngine lowered Itau Unibanco Banco Holding SA from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Citigroup Inc. lowered Itau Unibanco Banco Holding SA from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. BidaskClub lowered Itau Unibanco Banco Holding SA from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 23rd. Finally, Zacks Investment Research lowered Itau Unibanco Banco Holding SA from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $12.50.

Shares of Itau Unibanco Banco Holding SA (ITUB) traded down $0.32 during mid-day trading on Wednesday, reaching $12.37. The company’s stock had a trading volume of 9,106,100 shares, compared to its average volume of 11,421,759. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.57. Itau Unibanco Banco Holding SA has a 12-month low of $9.10 and a 12-month high of $14.59. The company has a market capitalization of $82,646.16, a P/E ratio of 10.94, a P/E/G ratio of 1.38 and a beta of 1.60.

Itau Unibanco Banco Holding SA announced that its Board of Directors has authorized a stock buyback plan on Thursday, August 31st that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 12th. Shareholders of record on Monday, December 4th will be given a $0.005 dividend. The ex-dividend date is Friday, December 1st. This represents a $0.06 annualized dividend and a yield of 0.49%. This is an increase from Itau Unibanco Banco Holding SA’s previous monthly dividend of $0.00. Itau Unibanco Banco Holding SA’s payout ratio is presently 5.22%.

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Itau Unibanco Banco Holding SA Profile

Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.

Institutional Ownership by Quarter for Itau Unibanco Banco Holding SA (NYSE:ITUB)

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