Northern Trust Corp Raises Stock Holdings in Mitsubishi UFJ Financial Group, Inc. $MUFG

Key Points

• Northern Trust Corp increased its stake in Mitsubishi UFJ Financial Group by 8.4% during the first quarter, owning 11,407,268 shares worth approximately $155.5 million.
• Mitsubishi UFJ Financial Group reported earnings of $0.32 per share, surpassing expectations of $0.29, on revenue of $22.10 billion for the quarter.
• The company's stock has shown upward movement, trading up 1.8% recently, with a current market cap of $188.05 billion.

Northern Trust Corp raised its position in shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,407,268 shares of the company's stock after buying an additional 885,189 shares during the quarter. Northern Trust Corp owned about 0.09% of Mitsubishi UFJ Financial Group worth $155,481,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MUFG. Caitong International Asset Management Co. Ltd purchased a new position in shares of Mitsubishi UFJ Financial Group in the 1st quarter valued at approximately $32,000. Nisa Investment Advisors LLC purchased a new stake in Mitsubishi UFJ Financial Group in the 1st quarter worth approximately $41,000. Financial Management Professionals Inc. grew its position in Mitsubishi UFJ Financial Group by 116.7% during the first quarter. Financial Management Professionals Inc. now owns 3,257 shares of the company's stock valued at $44,000 after buying an additional 1,754 shares during the period. Olde Wealth Management LLC acquired a new stake in shares of Mitsubishi UFJ Financial Group during the 1st quarter valued at about $87,000. Finally, Cary Street Partners Financial LLC acquired a new stake in Mitsubishi UFJ Financial Group in the fourth quarter valued at approximately $98,000. Hedge funds and other institutional investors own 13.59% of the company's stock.

Mitsubishi UFJ Financial Group Stock Up 0.8%

Shares of MUFG traded up $0.13 during midday trading on Thursday, reaching $15.41. The stock had a trading volume of 643,509 shares, compared to its average volume of 5,806,549. Mitsubishi UFJ Financial Group, Inc. has a 1-year low of $9.85 and a 1-year high of $16.16. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $185.90 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.42 and a beta of 0.42. The company's fifty day simple moving average is $14.21 and its two-hundred day simple moving average is $13.40.

Mitsubishi UFJ Financial Group (NYSE:MUFG - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $22.10 billion during the quarter, compared to analysts' expectations of $9.86 billion. Mitsubishi UFJ Financial Group had a return on equity of 9.35% and a net margin of 13.95%. Equities research analysts expect that Mitsubishi UFJ Financial Group, Inc. will post 0.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.