3,420,052 Shares in Itaú Unibanco Holding S.A. (NYSE:ITUB) Bought by Wellington Management Group LLP

Wellington Management Group LLP purchased a new position in Itaú Unibanco Holding S.A. (NYSE:ITUB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,420,052 shares of the bank’s stock, valued at approximately $23,769,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ITUB. Rhumbline Advisers grew its stake in Itaú Unibanco by 5.1% in the third quarter. Rhumbline Advisers now owns 598,930 shares of the bank’s stock worth $3,216,000 after purchasing an additional 28,846 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Itaú Unibanco by 201.8% in the third quarter. PNC Financial Services Group Inc. now owns 108,144 shares of the bank’s stock worth $581,000 after acquiring an additional 72,311 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Itaú Unibanco in the third quarter worth $279,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Itaú Unibanco in the third quarter worth $198,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Itaú Unibanco by 29.0% in the third quarter. Envestnet Asset Management Inc. now owns 812,595 shares of the bank’s stock worth $4,364,000 after acquiring an additional 182,564 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research note on Monday, June 17th.

Itaú Unibanco Trading Up 1.3 %

Shares of NYSE:ITUB opened at $6.04 on Tuesday. The company has a market cap of $59.19 billion, a P/E ratio of 8.16, a PEG ratio of 0.73 and a beta of 0.98. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.54 and a quick ratio of 1.54. Itaú Unibanco Holding S.A. has a 1 year low of $5.12 and a 1 year high of $7.27. The stock’s fifty day moving average price is $6.15 and its 200-day moving average price is $6.55.

Itaú Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Monday, May 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.20. The firm had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.34 billion. Itaú Unibanco had a return on equity of 18.73% and a net margin of 11.09%. Sell-side analysts expect that Itaú Unibanco Holding S.A. will post 0.81 earnings per share for the current year.

Itaú Unibanco Increases Dividend

The firm also recently declared a Variable dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, June 24th will be issued a dividend of $0.0478 per share. This is an increase from Itaú Unibanco’s previous Variable dividend of $0.00. The ex-dividend date is Monday, June 24th. Itaú Unibanco’s dividend payout ratio is presently 51.35%.

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.