Allianz SE Invests $3.25 Million in Mizuho Financial Group, Inc. (NYSE:MFG)

Key Points

• Allianz SE has acquired a new stake in Mizuho Financial Group, purchasing 590,000 shares valued at approximately $3.25 million.
• In the first quarter, several hedge funds increased or established positions in Mizuho, with US Bancorp DE growing its holdings by 8.7% and Assetmark Inc. increasing theirs by 244.3%.
• Mizuho Financial Group's latest earnings report revealed an EPS of $0.15, meeting analysts' expectations, but revenue fell short at $5.13 billion compared to the expected $5.42 billion.

Allianz SE acquired a new stake in shares of Mizuho Financial Group, Inc. (NYSE:MFG - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 590,000 shares of the bank's stock, valued at approximately $3,251,000.

Other hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC raised its position in Mizuho Financial Group by 54.7% during the fourth quarter. Lazard Asset Management LLC now owns 23,558,714 shares of the bank's stock valued at $115,201,000 after acquiring an additional 8,329,657 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Mizuho Financial Group by 18.0% in the 4th quarter. Bank of America Corp DE now owns 16,121,663 shares of the bank's stock valued at $78,835,000 after buying an additional 2,454,233 shares during the period. Northern Trust Corp grew its stake in Mizuho Financial Group by 86.1% during the 4th quarter. Northern Trust Corp now owns 9,743,983 shares of the bank's stock worth $47,648,000 after purchasing an additional 4,508,649 shares in the last quarter. Wells Fargo & Company MN grew its stake in Mizuho Financial Group by 48.5% during the 4th quarter. Wells Fargo & Company MN now owns 3,038,291 shares of the bank's stock worth $14,857,000 after purchasing an additional 992,900 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Mizuho Financial Group by 16.5% during the 4th quarter. Renaissance Technologies LLC now owns 3,020,703 shares of the bank's stock worth $14,771,000 after acquiring an additional 427,400 shares in the last quarter. 3.26% of the stock is currently owned by hedge funds and other institutional investors.

Mizuho Financial Group Stock Performance

Mizuho Financial Group stock traded up $0.09 during mid-day trading on Thursday, hitting $6.17. 78,033 shares of the company's stock traded hands, compared to its average volume of 2,838,545. The company has a market cap of $77.66 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.80 and a beta of 0.39. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.21. Mizuho Financial Group, Inc. has a one year low of $3.74 and a one year high of $6.24. The firm has a 50 day moving average price of $5.64 and a 200 day moving average price of $5.43.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last released its earnings results on Thursday, July 31st. The bank reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.42 billion. Mizuho Financial Group had a net margin of 10.16% and a return on equity of 8.48%. On average, equities analysts forecast that Mizuho Financial Group, Inc. will post 0.42 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Mizuho Financial Group from a "sell" rating to a "hold" rating in a report on Sunday.

Mizuho Financial Group Profile

Mizuho Financial Group, Inc, together with its subsidiaries, engages in banking, trust, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally. It operates through Retail & Business Banking Company, Corporate & Institutional Company, Global Corporate Company, Global Markets Company, Asset Management Company, and Others segments.