1,082,290 Shares in Mizuho Financial Group, Inc. $MFG Bought by Ramirez Asset Management Inc.

Key Points

• Ramirez Asset Management acquired a new stake of 1,082,290 Mizuho shares (~$7.25 million) in Q3, representing about 1.0% of its holdings and making Mizuho its 27th-largest position.
• Other institutions raised their exposure too—American Century added 961,303 shares (up 33.6%) and JPMorgan boosted its stake 65.4% (+442,930 shares), with Goldman Sachs, Envestnet and US Bancorp also increasing positions.
• Mizuho trades near $8.06 with a market cap around $100 billion and recently beat quarterly estimates ($0.16 EPS vs $0.14 consensus); analyst sentiment is mixed but averages a "Moderate Buy" after a Weiss downgrade to buy (b+).

Ramirez Asset Management Inc. acquired a new stake in shares of Mizuho Financial Group, Inc. (NYSE:MFG - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,082,290 shares of the bank's stock, valued at approximately $7,251,000. Mizuho Financial Group accounts for about 1.0% of Ramirez Asset Management Inc.'s holdings, making the stock its 27th biggest position.

Other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in shares of Mizuho Financial Group by 0.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,508,417 shares of the bank's stock worth $79,941,000 after buying an additional 57,806 shares during the period. American Century Companies Inc. lifted its position in Mizuho Financial Group by 33.6% during the 3rd quarter. American Century Companies Inc. now owns 3,821,302 shares of the bank's stock valued at $25,603,000 after acquiring an additional 961,303 shares during the period. Envestnet Asset Management Inc. lifted its position in Mizuho Financial Group by 5.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,645,460 shares of the bank's stock valued at $11,025,000 after acquiring an additional 84,386 shares during the period. JPMorgan Chase & Co. boosted its stake in Mizuho Financial Group by 65.4% during the third quarter. JPMorgan Chase & Co. now owns 1,120,375 shares of the bank's stock worth $7,507,000 after acquiring an additional 442,930 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Mizuho Financial Group by 23.7% during the third quarter. US Bancorp DE now owns 944,671 shares of the bank's stock worth $6,329,000 after acquiring an additional 180,686 shares in the last quarter. Institutional investors own 3.26% of the company's stock.

Mizuho Financial Group Trading Down 1.0%

NYSE MFG opened at $8.06 on Friday. Mizuho Financial Group, Inc. has a 12 month low of $4.04 and a 12 month high of $10.28. The stock has a market cap of $100.17 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.64 and a beta of 0.36. The stock's fifty day moving average price is $8.63 and its 200-day moving average price is $7.41. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.72.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last issued its quarterly earnings results on Monday, February 2nd. The bank reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $5.58 billion. Mizuho Financial Group had a return on equity of 9.23% and a net margin of 12.31%. As a group, equities analysts forecast that Mizuho Financial Group, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Mizuho Financial Group from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Mizuho Financial Group Company Profile

Mizuho Financial Group, Inc is a major Japanese banking and financial services holding company headquartered in Tokyo. The group operates through a network of subsidiaries that provide a full range of retail, corporate and investment banking services. Its core businesses include deposit-taking and lending, transaction banking, cash management, trade finance and treasury services for both individual and institutional clients.

Beyond traditional commercial banking, Mizuho offers securities and capital markets services, investment banking, underwriting, M&A advisory, and asset management through its securities and trust banking arms.

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