Wellington Management Group LLP Has $28.51 Million Stake in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Wellington Management Group LLP grew its position in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 8.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,287,191 shares of the bank's stock after acquiring an additional 331,473 shares during the quarter. Wellington Management Group LLP's holdings in Itaú Unibanco were worth $28,510,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Thornburg Investment Management Inc. lifted its position in shares of Itaú Unibanco by 0.9% during the 2nd quarter. Thornburg Investment Management Inc. now owns 183,245 shares of the bank's stock worth $1,084,000 after buying an additional 1,664 shares during the period. Van ECK Associates Corp lifted its position in shares of Itaú Unibanco by 68.5% during the 3rd quarter. Van ECK Associates Corp now owns 6,071 shares of the bank's stock worth $38,000 after buying an additional 2,469 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Itaú Unibanco by 4.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 57,500 shares of the bank's stock worth $382,000 after buying an additional 2,500 shares during the period. Creative Planning raised its position in Itaú Unibanco by 33.5% in the 3rd quarter. Creative Planning now owns 14,941 shares of the bank's stock valued at $99,000 after purchasing an additional 3,753 shares during the last quarter. Finally, Blueshift Asset Management LLC raised its position in Itaú Unibanco by 11.6% in the 3rd quarter. Blueshift Asset Management LLC now owns 41,990 shares of the bank's stock valued at $279,000 after purchasing an additional 4,379 shares during the last quarter.

Itaú Unibanco Trading Down 0.9 %

Shares of NYSE ITUB traded down $0.05 during midday trading on Friday, hitting $5.33. The stock had a trading volume of 15,169,239 shares, compared to its average volume of 18,906,350. The company's 50-day simple moving average is $5.98 and its 200 day simple moving average is $6.17. The firm has a market cap of $52.24 billion, a P/E ratio of 6.89, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. Itaú Unibanco Holding S.A. has a fifty-two week low of $5.25 and a fifty-two week high of $7.27. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.75 and a quick ratio of 1.75.

Itaú Unibanco Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 2nd will be paid a dividend of $0.0031 per share. The ex-dividend date is Monday, December 2nd. Itaú Unibanco's dividend payout ratio (DPR) is presently 47.44%.

Analysts Set New Price Targets

Several brokerages have issued reports on ITUB. JPMorgan Chase & Co. cut their price objective on Itaú Unibanco from $8.00 to $7.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. UBS Group downgraded Itaú Unibanco from a "buy" rating to a "neutral" rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $7.50.

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.