Artemis Investment Management LLP Purchases 3,406,701 Shares of Mizuho Financial Group, Inc. $MFG

Key Points

• Artemis Investment Management LLP increased its Mizuho Financial Group stake by 84.6% in the third quarter, purchasing 3,406,701 shares and bringing its holdings to 7,433,017 shares worth approximately $82.1 million.
• Other institutional investors also raised their positions, though institutional ownership remains relatively low at 3.26% of outstanding shares.
• Mizuho holds a consensus “Strong Buy” rating after Weiss Ratings upgraded the stock, while its latest quarterly earnings of $0.22 per share exceeded estimates of $0.17. Shares recently traded at $10.61, below the 52-week high of $11.49.

Artemis Investment Management LLP grew its position in shares of Mizuho Financial Group, Inc. (NYSE:MFG - Free Report) by 84.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,433,017 shares of the bank's stock after buying an additional 3,406,701 shares during the quarter. Artemis Investment Management LLP owned approximately 0.06% of Mizuho Financial Group worth $82,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Avidian Wealth Enterprises LLC raised its stake in shares of Mizuho Financial Group by 33.3% in the third quarter. Avidian Wealth Enterprises LLC now owns 16,523 shares of the bank's stock worth $183,000 after acquiring an additional 4,131 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in Mizuho Financial Group by 19.3% in the third quarter. Valeo Financial Advisors LLC now owns 42,968 shares of the bank's stock valued at $475,000 after purchasing an additional 6,948 shares during the last quarter. Moody National Bank Trust Division lifted its stake in Mizuho Financial Group by 22.5% in the third quarter. Moody National Bank Trust Division now owns 15,944 shares of the bank's stock valued at $176,000 after buying an additional 2,924 shares during the period. Global Wealth Strategies & Associates acquired a new position in Mizuho Financial Group in the third quarter valued at about $112,000. Finally, Versant Capital Management Inc boosted its holdings in Mizuho Financial Group by 2.4% during the third quarter. Versant Capital Management Inc now owns 71,044 shares of the bank's stock worth $785,000 after buying an additional 1,683 shares during the last quarter. Institutional investors own 3.26% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Mizuho Financial Group from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Strong Buy".

Mizuho Financial Group Stock Performance

MFG traded down $0.16 during trading hours on Thursday, reaching $10.61. The company's stock had a trading volume of 1,774,813 shares, compared to its average volume of 4,054,169. The firm has a market cap of $131.08 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 0.74 and a beta of 0.48. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.93 and a current ratio of 0.93. Mizuho Financial Group, Inc. has a 52 week low of $6.09 and a 52 week high of $11.49. The company's 50-day moving average is $10.79 and its 200-day moving average is $9.76.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last released its earnings results on Thursday, July 30th. The bank reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $5.51 billion. Mizuho Financial Group had a return on equity of 12.82% and a net margin of 17.15%. On average, equities analysts forecast that Mizuho Financial Group, Inc. will post 0.75 EPS for the current year.

Mizuho Financial Group Company Profile

Mizuho Financial Group, Inc is a Japan-based financial services holding company and one of Japan's major banking groups. Through its subsidiaries, the company provides a broad range of services to individuals, businesses, institutional investors and government-related entities.

Its principal businesses include commercial and retail banking, corporate and investment banking, trust banking, securities, asset management, private banking and other financial services. Key subsidiaries include Mizuho Bank, Mizuho Trust & Banking and Mizuho Securities, which offer deposits, lending, payments, capital markets services, investment products, advisory services and trust-related solutions.

Mizuho serves customers throughout Japan and maintains an international network supporting cross-border banking, finance and capital markets activities across the Americas, Europe, the Middle East, Africa and the Asia-Pacific region.

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