Assetmark Inc. Acquires 118,129 Shares of Mizuho Financial Group, Inc. $MFG

Key Points

• Assetmark Inc. increased its stake in Mizuho Financial Group by 63.6% in the first quarter, buying 118,129 additional shares and bringing its total holdings to 303,778 shares valued at about $2.41 million.
• Several other institutional investors also added to or initiated positions in Mizuho, and overall institutional ownership stands at 3.26% of the stock.
• Analyst sentiment remains moderately positive: Weiss Ratings reaffirmed a buy (B+) rating, and MarketBeat data shows a Moderate Buy consensus. Mizuho shares were trading up 0.7% at $10.57, near their 52-week high of $10.78.

Assetmark Inc. grew its holdings in shares of Mizuho Financial Group, Inc. (NYSE:MFG - Free Report) by 63.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,778 shares of the bank's stock after buying an additional 118,129 shares during the quarter. Assetmark Inc.'s holdings in Mizuho Financial Group were worth $2,412,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Mizuho Financial Group in the 1st quarter worth $34,000. Parkside Financial Bank & Trust lifted its position in shares of Mizuho Financial Group by 72.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,330 shares of the bank's stock valued at $32,000 after purchasing an additional 1,825 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Mizuho Financial Group by 351.5% during the fourth quarter. Brown Brothers Harriman & Co. now owns 4,524 shares of the bank's stock valued at $33,000 after purchasing an additional 3,522 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Mizuho Financial Group during the fourth quarter worth about $49,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Mizuho Financial Group in the 4th quarter worth about $54,000. 3.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "buy (b+)" rating on shares of Mizuho Financial Group in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Mizuho Financial Group Trading Up 0.7%

NYSE MFG opened at $10.57 on Friday. The stock has a market capitalization of $130.60 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 0.86 and a beta of 0.46. Mizuho Financial Group, Inc. has a one year low of $5.74 and a one year high of $10.78. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.98 and a quick ratio of 0.98. The business's fifty day moving average is $9.73 and its 200-day moving average is $8.95.

About Mizuho Financial Group

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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