UBS Asset Management Americas Inc. grew its holdings in Itau Unibanco Holding SA (NYSE:ITUB) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,586,784 shares of the bank’s stock after purchasing an additional 33,660 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Itau Unibanco were worth $124,628,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of ITUB. Harding Loevner LP boosted its stake in shares of Itau Unibanco by 225.1% in the third quarter. Harding Loevner LP now owns 193,057,699 shares of the bank’s stock valued at $774,895,000 after purchasing an additional 133,670,409 shares during the period. Mondrian Investment Partners LTD purchased a new position in shares of Itau Unibanco in the third quarter valued at approximately $235,563,000. Fisher Asset Management LLC boosted its stake in shares of Itau Unibanco by 62.9% in the third quarter. Fisher Asset Management LLC now owns 19,361,308 shares of the bank’s stock valued at $265,250,000 after purchasing an additional 7,472,507 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Itau Unibanco by 21.3% in the third quarter. Baillie Gifford & Co. now owns 28,091,190 shares of the bank’s stock valued at $384,849,000 after purchasing an additional 4,924,628 shares during the period. Finally, Barings LLC purchased a new position in shares of Itau Unibanco in the fourth quarter valued at approximately $31,194,000. 4.75% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on ITUB. Deutsche Bank raised shares of Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Monday, December 11th. Zacks Investment Research cut shares of Itau Unibanco from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. BidaskClub cut shares of Itau Unibanco from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Finally, ValuEngine raised shares of Itau Unibanco from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Itau Unibanco currently has an average rating of “Hold” and an average price target of $14.25.
The company also recently announced a monthly dividend, which will be paid on Thursday, April 12th. Investors of record on Friday, March 2nd will be issued a $0.0046 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.05 annualized dividend and a yield of 0.35%. Itau Unibanco’s dividend payout ratio (DPR) is 5.22%.
Itau Unibanco announced that its Board of Directors has authorized a stock buyback plan on Monday, December 18th that permits the company to repurchase 28,620,000 outstanding shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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Itau Unibanco 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.
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