Thornburg Investment Management Inc. lifted its position in shares of Itau Unibanco Holding SA (NYSE:ITUB) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,551,577 shares of the bank’s stock after purchasing an additional 121,540 shares during the period. Thornburg Investment Management Inc.’s holdings in Itau Unibanco were worth $28,016,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Suntrust Banks Inc. raised its stake in Itau Unibanco by 234.6% during the 1st quarter. Suntrust Banks Inc. now owns 33,904 shares of the bank’s stock worth $528,000 after acquiring an additional 23,772 shares in the last quarter. Fisher Asset Management LLC raised its stake in Itau Unibanco by 4.2% during the 2nd quarter. Fisher Asset Management LLC now owns 27,305,055 shares of the bank’s stock worth $283,426,000 after acquiring an additional 1,104,282 shares in the last quarter. Investment House LLC acquired a new stake in Itau Unibanco during the 2nd quarter worth $432,000. Confluence Investment Management LLC acquired a new stake in Itau Unibanco during the 2nd quarter worth $305,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Itau Unibanco during the 2nd quarter worth $425,000. 5.40% of the stock is owned by institutional investors and hedge funds.
NYSE ITUB traded down $0.10 during trading on Wednesday, reaching $13.35. The company’s stock had a trading volume of 65,977 shares, compared to its average volume of 18,442,940. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market cap of $88.96 billion, a PE ratio of 11.80, a P/E/G ratio of 1.28 and a beta of 1.14. Itau Unibanco Holding SA has a twelve month low of $9.85 and a twelve month high of $16.98.
A number of research analysts have commented on the stock. Citigroup lowered shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, October 25th. Zacks Investment Research lowered shares of Itau Unibanco from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Finally, ValuEngine upgraded shares of Itau Unibanco from a “sell” rating to a “hold” rating in a research note on Wednesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $16.50.
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Itau Unibanco Company 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: Outstanding Shares and The Effect on Share Price
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