Rhumbline Advisers Cuts Stake in Mitsubishi UFJ Financial Group, Inc. $MUFG

Key Points

• Rhumbline Advisers has reduced its stake in Mitsubishi UFJ Financial Group by 15.2%, now owning 198,340 shares worth approximately $2.7 million after a sale of 35,585 shares.
• In contrast, several other hedge funds, including Ameriprise Financial and Millennium Management, have either increased their stakes or initiated new positions in MUFG during recent quarters.
• The stock of Mitsubishi UFJ Financial Group currently trades at $15.53 with a market capitalization of $187.41 billion and has been rated with an average of "Strong Buy" by analysts.

Rhumbline Advisers trimmed its holdings in shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Free Report) by 15.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,340 shares of the company's stock after selling 35,585 shares during the period. Rhumbline Advisers' holdings in Mitsubishi UFJ Financial Group were worth $2,703,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new stake in Mitsubishi UFJ Financial Group in the 1st quarter valued at about $143,000. Goldman Sachs Group Inc. grew its holdings in Mitsubishi UFJ Financial Group by 2.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,652,332 shares of the company's stock valued at $172,451,000 after buying an additional 288,583 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Mitsubishi UFJ Financial Group by 5.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 88,180 shares of the company's stock worth $1,163,000 after purchasing an additional 4,664 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Mitsubishi UFJ Financial Group during the first quarter worth about $41,000. Finally, SCS Capital Management LLC purchased a new position in shares of Mitsubishi UFJ Financial Group during the first quarter worth about $2,593,000. 13.59% of the stock is currently owned by institutional investors.

Mitsubishi UFJ Financial Group Stock Up 1.6%

MUFG stock traded up $0.25 during midday trading on Friday, hitting $15.87. The stock had a trading volume of 3,149,239 shares, compared to its average volume of 3,341,664. Mitsubishi UFJ Financial Group, Inc. has a 52-week low of $9.85 and a 52-week high of $16.16. The firm has a market cap of $191.51 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.14 and a beta of 0.39. The business has a 50-day moving average of $14.83 and a two-hundred day moving average of $13.72. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.89 and a quick ratio of 0.89.

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

Analyst Upgrades and Downgrades

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

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.