Wellington Management Group LLP Raises Stock Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Wellington Management Group LLP raised its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 8.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,287,191 shares of the bank’s stock after acquiring an additional 331,473 shares during the period. Wellington Management Group LLP’s holdings in Itaú Unibanco were worth $28,510,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Driehaus Capital Management LLC lifted its position in Itaú Unibanco by 77.5% during the second quarter. Driehaus Capital Management LLC now owns 7,114,571 shares of the bank’s stock valued at $41,549,000 after purchasing an additional 3,106,130 shares during the period. Perpetual Ltd lifted its holdings in shares of Itaú Unibanco by 9.0% during the 3rd quarter. Perpetual Ltd now owns 13,629,806 shares of the bank’s stock valued at $90,638,000 after buying an additional 1,126,695 shares during the period. Itau Unibanco Holding S.A. boosted its stake in shares of Itaú Unibanco by 2.3% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 23,818,027 shares of the bank’s stock worth $134,606,000 after buying an additional 529,600 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Itaú Unibanco by 6.1% in the third quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock worth $336,408,000 after acquiring an additional 2,886,508 shares during the period. Finally, DRW Securities LLC purchased a new stake in Itaú Unibanco during the third quarter valued at $925,000.

Itaú Unibanco Stock Performance

NYSE:ITUB opened at $5.38 on Friday. The stock has a 50-day simple moving average of $6.00 and a two-hundred day simple moving average of $6.17. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.75 and a current ratio of 1.75. Itaú Unibanco Holding S.A. has a 52-week low of $5.25 and a 52-week high of $7.27. The firm has a market capitalization of $52.68 billion, a PE ratio of 6.89, a P/E/G ratio of 0.70 and a beta of 0.95.

Itaú Unibanco Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be paid a dividend of $0.0031 per share. The ex-dividend date of this dividend is Monday, December 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is presently 46.15%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ITUB shares. JPMorgan Chase & Co. cut their price target on Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. UBS Group lowered shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Itaú Unibanco currently has an average rating of “Moderate Buy” and an average price target of $7.50.

Itaú Unibanco Company Profile

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.