Engineers Gate Manager LP Raises Position in Mitsubishi UFJ Financial Group, Inc. $MUFG

Key Points

• Engineers Gate Manager LP more than doubled its MUFG stake by 112.7% in the second quarter, ending with 125,914 shares valued at approximately $2.5 million. Institutional investors collectively own 13.59% of the company.
• Analyst sentiment remains positive overall, with MUFG holding a “Moderate Buy” average rating based on one Strong Buy, two Buy, and two Hold ratings.
• MUFG reported quarterly earnings of $0.45 per share, beating estimates of $0.35, while revenue reached $15.11 billion versus expectations of $10.06 billion. Shares opened at $23.91, near their 52-week high of $24.26.

Engineers Gate Manager LP boosted its stake in shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Free Report) by 112.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,914 shares of the company's stock after purchasing an additional 66,715 shares during the period. Engineers Gate Manager LP's holdings in Mitsubishi UFJ Financial Group were worth $2,504,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MUFG. Dorsey Wright & Associates boosted its holdings in shares of Mitsubishi UFJ Financial Group by 39.3% during the 1st quarter. Dorsey Wright & Associates now owns 223,030 shares of the company's stock valued at $3,785,000 after purchasing an additional 62,918 shares during the last quarter. Fiera Capital Corp bought a new position in Mitsubishi UFJ Financial Group during the fourth quarter valued at approximately $592,000. First Trust Advisors LP grew its holdings in Mitsubishi UFJ Financial Group by 52.5% during the 1st quarter. First Trust Advisors LP now owns 476,447 shares of the company's stock valued at $8,085,000 after buying an additional 164,083 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Mitsubishi UFJ Financial Group by 21.4% during the 1st quarter. Quantinno Capital Management LP now owns 2,399,601 shares of the company's stock valued at $40,721,000 after buying an additional 423,058 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Mitsubishi UFJ Financial Group by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,363,726 shares of the company's stock worth $23,142,000 after acquiring an additional 80,484 shares during the last quarter. Institutional investors own 13.59% of the company's stock.

Wall Street Analysts Forecast Growth

MUFG has been the topic of several recent research reports. Erste Group Bank assumed coverage on Mitsubishi UFJ Financial Group in a report on Thursday, June 25th. They set a "buy" rating on the stock. Weiss Ratings cut shares of Mitsubishi UFJ Financial Group from a "buy (b)" rating to a "hold (c)" rating in a research report on Tuesday, July 14th. Finally, Mitsubishi UFJ Financial Group initiated coverage on shares of Mitsubishi UFJ Financial Group in a research note on Thursday, June 25th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Mitsubishi UFJ Financial Group Stock Up 0.1%

Shares of MUFG opened at $23.91 on Tuesday. The company has a market cap of $283.70 billion, a PE ratio of 15.62, a P/E/G ratio of 1.06 and a beta of 0.39. The business has a fifty day moving average of $22.54 and a 200 day moving average of $19.92. Mitsubishi UFJ Financial Group, Inc. has a 52-week low of $14.62 and a 52-week high of $24.26. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.10.

Mitsubishi UFJ Financial Group (NYSE:MUFG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.10. Mitsubishi UFJ Financial Group had a net margin of 17.63% and a return on equity of 12.30%. The business had revenue of $15.11 billion for the quarter, compared to analysts' expectations of $10.06 billion. On average, sell-side analysts expect that Mitsubishi UFJ Financial Group, Inc. will post 1.59 EPS for the current year.

Mitsubishi UFJ Financial Group Company Profile

Mitsubishi UFJ Financial Group, Inc NYSE: MUFG is a diversified Japanese financial services group headquartered in Tokyo. The group's principal banking subsidiary, MUFG Bank, provides commercial and retail banking services, including deposits, lending, payments, foreign exchange, and transaction banking. Through its broader operations, MUFG also offers trust banking, securities services, asset management, leasing, credit cards, and consumer finance.

MUFG serves individuals, businesses, financial institutions, and governments in Japan and international markets.

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