Russell Investments Group Ltd. Has $36.58 Million Stock Position in Itau Unibanco Holding S.A. (NYSE:ITUB)

Russell Investments Group Ltd. raised its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 47.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,651,216 shares of the bank's stock after buying an additional 2,136,039 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of Itau Unibanco worth $36,582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITUB. Robeco Institutional Asset Management B.V. grew its holdings in shares of Itau Unibanco by 5.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 41,964,629 shares of the bank's stock worth $230,805,000 after purchasing an additional 2,306,414 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Itau Unibanco by 311.4% during the 4th quarter. Bank of America Corp DE now owns 25,584,177 shares of the bank's stock worth $126,898,000 after purchasing an additional 19,365,644 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Itau Unibanco by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 24,592,740 shares of the bank's stock worth $135,260,000 after purchasing an additional 1,549,003 shares in the last quarter. Perpetual Ltd grew its holdings in shares of Itau Unibanco by 9.9% during the 1st quarter. Perpetual Ltd now owns 15,031,037 shares of the bank's stock worth $82,671,000 after purchasing an additional 1,349,543 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Itau Unibanco during the 4th quarter worth approximately $71,054,000.

Itau Unibanco Price Performance

Shares of ITUB stock opened at $6.98 on Friday. The stock's fifty day simple moving average is $6.59 and its 200 day simple moving average is $6.04. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a market cap of $75.20 billion, a price-to-earnings ratio of 9.89, a P/E/G ratio of 1.08 and a beta of 0.74. Itau Unibanco Holding S.A. has a one year low of $4.42 and a one year high of $7.13.

Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $44.75 billion. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%. On average, analysts expect that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were paid a $0.0024 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a yield of 43.0%. Itau Unibanco's payout ratio is currently 4.23%.

Wall Street Analysts Forecast Growth

Separately, UBS Group reissued a "neutral" rating on shares of Itau Unibanco in a report on Thursday, July 10th.

Itau Unibanco 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.

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