Myriad Asset Management US LP Takes $3.58 Million Position in Mitsubishi UFJ Financial Group, Inc. $MUFG

Key Points

• Myriad Asset Management US LP acquired a new stake in Mitsubishi UFJ Financial Group by purchasing 260,611 shares valued at approximately $3.57 million, making it the fund's 10th largest holding.
• Multiple institutional investors have increased their stakes in Mitsubishi UFJ Financial Group, with Royal Bank of Canada growing its holdings by 40.4%.
• Mitsubishi UFJ Financial Group recently reported earnings of $0.32 per share, exceeding estimates, and experienced upgrades from analysts, now having an average rating of "Strong Buy."

Myriad Asset Management US LP acquired a new position in shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 260,611 shares of the company's stock, valued at approximately $3,576,000. Mitsubishi UFJ Financial Group makes up approximately 2.4% of Myriad Asset Management US LP's investment portfolio, making the stock its 10th biggest position.

A number of other institutional investors have also modified their holdings of MUFG. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Mitsubishi UFJ Financial Group in the 1st quarter worth about $143,000. Goldman Sachs Group Inc. lifted its holdings in shares of 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 during the last quarter. Allspring Global Investments Holdings LLC increased its position in Mitsubishi UFJ Financial Group by 5.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 88,180 shares of the company's stock worth $1,163,000 after buying an additional 4,664 shares during the period. Nisa Investment Advisors LLC acquired a new stake in Mitsubishi UFJ Financial Group in the 1st quarter valued at $41,000. Finally, SCS Capital Management LLC acquired a new position in shares of Mitsubishi UFJ Financial Group during the first quarter valued at $2,593,000. 13.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on MUFG. Zacks Research upgraded Mitsubishi UFJ Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Wall Street Zen upgraded 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 data from MarketBeat.com, Mitsubishi UFJ Financial Group currently has a consensus rating of "Strong Buy".

Mitsubishi UFJ Financial Group Stock Performance

NYSE MUFG traded up $0.25 on Friday, hitting $15.87. 3,149,239 shares of the stock traded hands, compared to its average volume of 3,341,664. The business's fifty day moving average is $14.83 and its two-hundred day moving average is $13.73. Mitsubishi UFJ Financial Group, Inc. has a 12 month low of $9.85 and a 12 month high of $16.16. The firm has a market capitalization of $191.51 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.15 and a beta of 0.39. 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 (NYSE:MUFG - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $9.86 billion. As a group, equities analysts anticipate that Mitsubishi UFJ Financial Group, Inc. will post 0.99 EPS for the current fiscal 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.