The skies seem vastly sunnier for investors in Itaú Unibanco Holding (BOVESPA:ITUB3) as the price target has ascended by 6.38% to reach the lofty peak of 31.78 per share. This new projection soars above the prior estimate of 29.88 as of January 18, 2024.
A platter of estimates from analysts has been served up to create this average price target. Currently, the range beckons from a low of 25.43 to a high of 40.11 per share. The middle ground of 31.78 represents a 3.26% elevation from the most recent closing price of 30.78 per share.
The Heartbeat of the Market: Fund Sentiment
Mystery shrouds the stock market, swirling with intrigue as 450 funds or institutions have come forth with their positions in Itaú Unibanco Holding. This constitutes an increase of 24 shareholders or 5.63% in the last quarter alone. Across the board, the average portfolio weight of all funds dedicated to ITUB3 stands at 0.48%, showcasing a 2.63% boost. Despite this collective exuberance, institutions have divvied up their shares, resulting in a 4.06% decrease in total shares owned to 900,282K.
Among the gear-churning institutions, Schroder Investment Management Group emerges as a key player, holding 88,302K shares, translating to 0.90% ownership of the company. Their past filing unveiled ownership of 95,993K shares, showcasing an 8.71% decrease. The group, however, found solace in upping their portfolio allocation in ITUB3 by 3.76% over the last quarter.
The plot thickens as Westwood Global Investments parades its 63,044K shares on the stage, depicting 0.64% ownership in the play. However, in a surprising twist, their prior outing boasted ownership of 63,473K shares, marking a 0.68% decrease. This tumble led to a staggering 39.92% reduction in their portfolio allocation in ITUB3 over the previous quarter.
Jpmorgan Chase appears to have rewritten their storyline with 60,896K shares, holding 0.62% ownership. Their preceding tale disclosed ownership of 45,605K shares, marking a notable increase of 25.11%. In a jubilant turn of events, the firm surged, elevating their portfolio allocation in ITUB3 by 50.50% over the last quarter.
As the curtains draw close, Goldman Sachs Group takes center stage with 53,197K shares amounting to 0.54% ownership. However, their previous narrative paraded 64,655K shares, signifying a plummeting 21.54% decrease. A dive of 74.91% ensued in their portfolio allocation in ITUB3 over the previous quarter.
Amidst the shareholder orchestra, Perpetual’s quiet melody plays in the background with 42,563K shares, holding 0.43% ownership. Their tale of yore recounted ownership of 42,618K shares, painting a picture of a mere 0.13% decrease. Nevertheless, a departure of 19.64% characterized their portfolio allocation in ITUB3 over the last quarter.
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This enriching narrative first appeared on Fintel.
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