Russell Investments Group Ltd. Grows Holdings in Itau Unibanco Holding S.A. $ITUB

Russell Investments Group Ltd. lifted its position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 22.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,146,771 shares of the bank’s stock after buying an additional 1,495,555 shares during the quarter. Russell Investments Group Ltd.’s holdings in Itau Unibanco were worth $55,317,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Itau Unibanco by 3,590.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank’s stock worth $29,000 after acquiring an additional 4,201 shares during the period. MAI Capital Management acquired a new stake in shares of Itau Unibanco during the second quarter worth $41,000. GAMMA Investing LLC grew its position in shares of Itau Unibanco by 114.8% in the second quarter. GAMMA Investing LLC now owns 9,667 shares of the bank’s stock valued at $66,000 after purchasing an additional 5,167 shares during the period. Parallel Advisors LLC increased its stake in Itau Unibanco by 31.7% in the second quarter. Parallel Advisors LLC now owns 10,195 shares of the bank’s stock valued at $69,000 after purchasing an additional 2,455 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in Itau Unibanco in the second quarter valued at $69,000.

Itau Unibanco Stock Performance

Itau Unibanco stock opened at $7.67 on Friday. The company has a market cap of $82.64 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 1.10 and a beta of 0.85. Itau Unibanco Holding S.A. has a 12 month low of $4.42 and a 12 month high of $7.86. 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 stock’s 50-day moving average is $7.28 and its 200-day moving average is $6.90.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ITUB shares. Zacks Research lowered Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Itau Unibanco in a report on Wednesday, November 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Itau Unibanco from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Itau Unibanco currently has an average rating of “Moderate Buy” and a consensus price target of $7.09.

Itau 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.