Should You Consider Adding Itaú Unibanco Holding S.A. (ITUB) to Your Portfolio?

Ariel Investments, an investment management company, released its “Ariel Global Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the Ariel Global Composite delivered a 10.72% gross of fees compared to a +9.76% return for the primary MSCI ACWI Index and a +14.21% gain for the MSCI ACWI Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Ariel Global Strategy highlighted stocks like Itaú Unibanco Holding S.A. (NYSE:ITUB) in the Q4 2022 investor letter. Headquartered in São Paulo, Brazil, Itaú Unibanco Holding S.A. (NYSE:ITUB) provides financial products and services. On March 15, 2023, Itaú Unibanco Holding S.A. (NYSE:ITUB) stock closed at $4.4100 per share. One-month return of Itaú Unibanco Holding S.A. (NYSE:ITUB) was -14.04%, and its shares lost 14.20% of their value over the last 52 weeks. Itaú Unibanco Holding S.A. (NYSE:ITUB) has a market capitalization of $43.107 billion.

Ariel Global Strategy made the following comment about Itaú Unibanco Holding S.A. (NYSE:ITUB) in its Q4 2022 investor letter:

“We initiated two new positions in the quarter. Macro-uncertainty also presented us an opportunity to buy shares of Brazilian financial services company, Itaú Unibanco Holding S.A. (NYSE:ITUB). The company is led by a dynamic CEO, who is utilizing technology in the private banking sector as part of a broader move towards digitization. This strategy is not only reducing distribution costs, but is enabling the creation of new products in high market share areas such as private banking, credit cards, as well as small- and medium-size business lending. An attractive valuation, strong net interest margins and high return on equity are among the attributes motivating our purchase of shares.”

Investments, Finance

Itaú Unibanco Holding S.A. (NYSE:ITUB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held Itaú Unibanco Holding S.A. (NYSE:ITUB) at the end of the fourth quarter which was 16 in the previous quarter.

We discussed Itaú Unibanco Holding S.A. (NYSE:ITUB) in another article and shared the list of cheapest penny stocks to buy according to analysts. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

• 15 Under-the-Radar High Dividend Stocks to Buy
• 15 Biggest Private Security Companies in the World
• 21 Best Tequila Brands of 2023

Disclosure: None. This article is originally published at Insider Monkey.