Mitsubishi UFJ Financial Group (NYSE:MUFG) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Mitsubishi UFJ Financial Group (NYSE:MUFG) from a sell rating to a hold rating in a research report sent to investors on Friday.

Mitsubishi UFJ Financial Group Trading Up 0.6%

Shares of MUFG stock opened at $13.54 on Friday. The company has a market cap of $163.34 billion, a P/E ratio of 12.42, a PEG ratio of 1.16 and a beta of 0.39. The stock has a 50 day simple moving average of $12.71 and a two-hundred day simple moving average of $12.30. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.92 and a current ratio of 0.90. Mitsubishi UFJ Financial Group has a fifty-two week low of $8.75 and a fifty-two week high of $15.03.

Mitsubishi UFJ Financial Group (NYSE:MUFG) last issued its earnings results on Thursday, May 15th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $22.91 billion during the quarter, compared to the consensus estimate of $6.47 billion. Mitsubishi UFJ Financial Group had a return on equity of 9.27% and a net margin of 14.19%. Research analysts forecast that Mitsubishi UFJ Financial Group will post 0.99 earnings per share for the current year.

Institutional Investors Weigh In On Mitsubishi UFJ Financial Group

A number of hedge funds have recently added to or reduced their stakes in MUFG. Northern Trust Corp grew its stake in Mitsubishi UFJ Financial Group by 46.6% in the fourth quarter. Northern Trust Corp now owns 10,522,079 shares of the company’s stock valued at $123,319,000 after acquiring an additional 3,342,330 shares during the period. Clearbridge Investments LLC grew its stake in Mitsubishi UFJ Financial Group by 325.9% in the fourth quarter. Clearbridge Investments LLC now owns 3,822,530 shares of the company’s stock valued at $44,800,000 after acquiring an additional 2,924,979 shares during the period. Raymond James Financial Inc. acquired a new stake in Mitsubishi UFJ Financial Group in the fourth quarter valued at approximately $29,252,000. Royal Bank of Canada grew its stake in Mitsubishi UFJ Financial Group by 40.4% in the fourth quarter. Royal Bank of Canada now owns 6,021,271 shares of the company’s stock valued at $70,570,000 after acquiring an additional 1,731,873 shares during the period. Finally, Artemis Investment Management LLP grew its stake in Mitsubishi UFJ Financial Group by 175.6% in the first quarter. Artemis Investment Management LLP now owns 2,558,102 shares of the company’s stock valued at $34,867,000 after acquiring an additional 1,629,765 shares during the period. Institutional investors and hedge funds own 13.59% of the company’s stock.

Mitsubishi UFJ Financial Group Company Profile

Mitsubishi UFJ Financial Group, Inc operates as the bank holding company, that engages in a range of financial businesses in Japan, the United States, Europe, Asia/Oceania, and internationally. It operates through seven segments: Digital Service, Retail & Commercial Banking, Japanese Corporate & Investment Banking, Global Commercial Banking, Asset Management & Investor Services, Global Corporate & Investment Banking, and Global Markets.