Nippon Life Global Investors Americas Inc. reduced its position in shares of Itau Unibanco Holding SA (NYSE:ITUB) by 62.6% in the third quarter, Holdings Channel reports. The institutional investor owned 66,618 shares of the bank’s stock after selling 111,370 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Itau Unibanco were worth $731,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the stock. ANTIPODES PARTNERS Ltd raised its holdings in Itau Unibanco by 8.1% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 53,534 shares of the bank’s stock valued at $555,000 after buying an additional 4,020 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Itau Unibanco by 5.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 110,567 shares of the bank’s stock worth $1,147,000 after purchasing an additional 5,358 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Itau Unibanco by 143.2% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,000 shares of the bank’s stock worth $110,000 after purchasing an additional 5,889 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in Itau Unibanco by 23.4% in the 3rd quarter. Checchi Capital Advisers LLC now owns 31,101 shares of the bank’s stock worth $341,000 after purchasing an additional 5,904 shares in the last quarter. Finally, HPM Partners LLC raised its holdings in Itau Unibanco by 30.0% in the 2nd quarter. HPM Partners LLC now owns 30,028 shares of the bank’s stock worth $312,000 after purchasing an additional 6,938 shares in the last quarter. Institutional investors own 5.43% of the company’s stock.
Shares of NYSE ITUB opened at $13.66 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.35 and a quick ratio of 1.35. Itau Unibanco Holding SA has a 12 month low of $9.85 and a 12 month high of $16.98. The firm has a market capitalization of $88.96 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 1.28 and a beta of 1.14.
The business also recently disclosed a special dividend, which will be paid on Thursday, December 13th. Shareholders of record on Friday, November 2nd will be issued a $0.0039 dividend. The ex-dividend date is Thursday, November 1st. This represents a yield of 0.36%. Itau Unibanco’s dividend payout ratio (DPR) is presently 4.39%.
ITUB has been the subject of several research reports. ValuEngine lowered shares of Itau Unibanco from a “sell” rating to a “strong sell” rating in a report on Thursday, September 13th. Zacks Investment Research lowered shares of Itau Unibanco from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Finally, Citigroup lowered shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.50.
Itau Unibanco Profile
Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.
Further Reading: What is a Leveraged Buyout (LBO)?
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