Legacy Wealth Asset Management LLC Has $1.96 Million Holdings in Mitsubishi UFJ Financial Group, Inc. $MUFG

Key Points

• Legacy Wealth Asset Management LLC has reduced its holdings in Mitsubishi UFJ Financial Group by 34.2%, now owning approximately $1.96 million worth of shares after selling 74,199 shares in the second quarter.
• Several institutional investors, including Opal Wealth Advisors and Geneos Wealth Management, have recently acquired stakes in Mitsubishi UFJ Financial Group, indicating increased interest in the company's stock.
• Mitsubishi UFJ Financial Group's stock is currently rated as a "Buy" on average by analysts, with recent upgrades from Zacks Research improving its standing from a "hold" to a "strong-buy" rating.

Legacy Wealth Asset Management LLC cut its position in shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Free Report) by 34.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,605 shares of the company's stock after selling 74,199 shares during the quarter. Legacy Wealth Asset Management LLC's holdings in Mitsubishi UFJ Financial Group were worth $1,957,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Mitsubishi UFJ Financial Group during the second quarter worth $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Mitsubishi UFJ Financial Group during the first quarter worth $32,000. Ameritas Advisory Services LLC acquired a new stake in Mitsubishi UFJ Financial Group in the second quarter worth $36,000. Nisa Investment Advisors LLC acquired a new stake in Mitsubishi UFJ Financial Group in the first quarter worth $41,000. Finally, Geneos Wealth Management Inc. grew its holdings in Mitsubishi UFJ Financial Group by 245.3% in the first quarter. Geneos Wealth Management Inc. now owns 4,790 shares of the company's stock worth $65,000 after purchasing an additional 3,403 shares during the period. 13.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on MUFG. Zacks Research raised shares of Mitsubishi UFJ Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Wall Street Zen raised shares of Mitsubishi UFJ Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Mitsubishi UFJ Financial Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy".

Mitsubishi UFJ Financial Group Stock Performance

Shares of MUFG stock opened at $15.43 on Tuesday. The firm has a market cap of $186.14 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 1.09 and a beta of 0.38. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.89 and a current ratio of 0.89. Mitsubishi UFJ Financial Group, Inc. has a 52 week low of $10.15 and a 52 week high of $16.24. The firm's 50-day simple moving average is $15.46 and its two-hundred day simple moving average is $14.01.

Mitsubishi UFJ Financial Group (NYSE:MUFG - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $22.10 billion for the quarter, compared to analyst estimates of $9.86 billion. Mitsubishi UFJ Financial Group had a net margin of 13.95% and a return on equity of 9.35%. As a group, equities analysts forecast that Mitsubishi UFJ Financial Group, Inc. will post 0.99 earnings per share for the current year.

Mitsubishi UFJ Financial Group Profile

Mitsubishi UFJ Financial Group, Inc operates as the bank holding company, that engages in a range of financial businesses in Japan, the United States, Europe, Asia/Oceania, and internationally. It operates through seven segments: Digital Service, Retail & Commercial Banking, Japanese Corporate & Investment Banking, Global Commercial Banking, Asset Management & Investor Services, Global Corporate & Investment Banking, and Global Markets.

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