Royal Bank of Canada Sells 40,879 Shares of Mitsubishi UFJ Financial Group, Inc. $MUFG

Key Points

• Royal Bank of Canada reduced its stake in Mitsubishi UFJ Financial Group by 0.7%, owning approximately 5.98 million shares valued at $81.5 million as of the latest filing.
• Analysts' ratings for MUFG have improved, with Zacks Research upgrading the stock from "hold" to "strong-buy" and an overall consensus rating of "strong buy" among analysts.
• Quarterly earnings data showed Mitsubishi UFJ Financial Group reporting $0.32 EPS, exceeding estimates, while the company's revenue reached $22.1 billion compared to a consensus of $9.86 billion.

Royal Bank of Canada lowered its stake in shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,980,392 shares of the company's stock after selling 40,879 shares during the period. Royal Bank of Canada's holdings in Mitsubishi UFJ Financial Group were worth $81,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in MUFG. Artemis Investment Management LLP lifted its position in shares of Mitsubishi UFJ Financial Group by 175.6% during the 1st quarter. Artemis Investment Management LLP now owns 2,558,102 shares of the company's stock valued at $34,867,000 after buying an additional 1,629,765 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Mitsubishi UFJ Financial Group in the first quarter valued at $12,534,000. Natixis Advisors LLC increased its stake in Mitsubishi UFJ Financial Group by 9.2% during the first quarter. Natixis Advisors LLC now owns 10,756,565 shares of the company's stock worth $146,612,000 after acquiring an additional 905,674 shares during the last quarter. Northern Trust Corp grew its stake in Mitsubishi UFJ Financial Group by 8.4% during the 1st quarter. Northern Trust Corp now owns 11,407,268 shares of the company's stock valued at $155,481,000 after purchasing an additional 885,189 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Mitsubishi UFJ Financial Group by 3,965.4% in the 1st quarter. 1832 Asset Management L.P. now owns 713,069 shares of the company's stock worth $9,719,000 after purchasing an additional 695,529 shares during the last quarter. 13.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MUFG has been the subject of a number of analyst reports. Zacks Research raised Mitsubishi UFJ Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Wall Street Zen upgraded shares of Mitsubishi UFJ Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has a consensus rating of "Strong Buy".

Mitsubishi UFJ Financial Group Price Performance

Shares of NYSE:MUFG traded up $0.30 during midday trading on Monday, hitting $15.57. The company's stock had a trading volume of 3,519,140 shares, compared to its average volume of 5,753,019. 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 12-month low of $9.85 and a 12-month high of $16.16. The company has a market cap of $187.83 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 1.11 and a beta of 0.39. The business's 50 day simple moving average is $14.44 and its 200 day simple moving average is $13.54.

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 for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. The business had revenue of $22.10 billion for the quarter, compared to analysts' expectations of $9.86 billion. Mitsubishi UFJ Financial Group had a net margin of 13.95% and a return on equity of 9.35%. On average, analysts forecast that Mitsubishi UFJ Financial Group, Inc. will post 0.99 EPS for the current year.

About Mitsubishi UFJ Financial Group

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.