Ramirez Asset Management Inc. Sells 40,830 Shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG)

Key Points

• Ramirez Asset Management Inc. has reduced its holdings in Mitsubishi UFJ Financial Group by 9.6%, now owning 386,020 shares worth approximately $5.26 million.
• Other institutional investors have also increased their positions in Mitsubishi UFJ Financial Group, with Northern Trust Corp. and Clearbridge Investments LLC boosting their shares significantly during the fourth quarter.
• Mitsubishi UFJ Financial Group reported an EPS of $0.13 for the last quarter, exceeding the consensus estimate, with revenue reaching $22.91 billion compared to expected figures of $6.47 billion.

Ramirez Asset Management Inc. cut its stake in Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Free Report) by 9.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 386,020 shares of the company's stock after selling 40,830 shares during the period. Mitsubishi UFJ Financial Group accounts for approximately 1.1% of Ramirez Asset Management Inc.'s investment portfolio, making the stock its 23rd largest holding. Ramirez Asset Management Inc.'s holdings in Mitsubishi UFJ Financial Group were worth $5,261,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC bought a new position in Mitsubishi UFJ Financial Group during the first quarter valued at about $41,000. Financial Management Professionals Inc. boosted its position in shares of Mitsubishi UFJ Financial Group by 116.7% in the 1st quarter. Financial Management Professionals Inc. now owns 3,257 shares of the company's stock valued at $44,000 after purchasing an additional 1,754 shares during the period. Olde Wealth Management LLC acquired a new position in shares of Mitsubishi UFJ Financial Group in the 1st quarter valued at $87,000. Cary Street Partners Financial LLC acquired a new position in shares of Mitsubishi UFJ Financial Group in the 4th quarter valued at $98,000. Finally, May Hill Capital LLC acquired a new position in shares of Mitsubishi UFJ Financial Group in the 4th quarter valued at $121,000. 13.59% of the stock is owned by institutional investors and hedge funds.

Mitsubishi UFJ Financial Group Stock Up 0.3%

Shares of MUFG traded up $0.04 during midday trading on Friday, reaching $13.94. 3,073,035 shares of the stock were exchanged, compared to its average volume of 6,154,620. Mitsubishi UFJ Financial Group, Inc. has a 12-month low of $8.75 and a 12-month high of $15.03. The firm has a 50 day simple moving average of $13.75 and a 200-day simple moving average of $13.07. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.57. The company has a market cap of $168.16 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 0.92 and a beta of 0.39.

Mitsubishi UFJ Financial Group (NYSE:MUFG - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.10. Mitsubishi UFJ Financial Group had a return on equity of 9.45% and a net margin of 13.70%. The company had revenue of $22.91 billion during the quarter, compared to the consensus estimate of $6.47 billion. Research analysts forecast that Mitsubishi UFJ Financial Group, Inc. will post 0.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Mitsubishi UFJ Financial Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th.

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.