Mizuho Financial Group, Inc. $MFG Stock Position Lifted by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Mizuho Financial Group by 2.2% during the first quarter, acquiring an additional 210,073 shares to hold a total of 9,954,056 shares valued at approximately $54.8 million.
• Several institutional investors, including Brooklyn Investment Group and Allworth Financial LP, have significantly increased their positions in Mizuho Financial Group, reflecting growing interest in the stock.
• Mizuho Financial Group's stock has experienced a modest gain of 0.5%, with a current price of $6.60, and analysts have recently upgraded the stock's rating from "sell" to "hold."

Northern Trust Corp raised its holdings in Mizuho Financial Group, Inc. (NYSE:MFG - Free Report) by 2.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,954,056 shares of the bank's stock after purchasing an additional 210,073 shares during the period. Northern Trust Corp owned about 0.08% of Mizuho Financial Group worth $54,847,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Lazard Asset Management LLC raised its position in shares of Mizuho Financial Group by 54.7% in the 4th quarter. Lazard Asset Management LLC now owns 23,558,714 shares of the bank's stock valued at $115,201,000 after purchasing an additional 8,329,657 shares in the last quarter. Bank of America Corp DE raised its position in shares of Mizuho Financial Group by 18.0% in the 4th quarter. Bank of America Corp DE now owns 16,121,663 shares of the bank's stock valued at $78,835,000 after purchasing an additional 2,454,233 shares in the last quarter. American Century Companies Inc. raised its position in shares of Mizuho Financial Group by 3.5% in the 1st quarter. American Century Companies Inc. now owns 2,845,350 shares of the bank's stock valued at $15,678,000 after purchasing an additional 95,035 shares in the last quarter. Millennium Management LLC raised its position in shares of Mizuho Financial Group by 129.2% during the 4th quarter. Millennium Management LLC now owns 1,620,882 shares of the bank's stock valued at $7,926,000 after acquiring an additional 913,639 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Mizuho Financial Group by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,602,728 shares of the bank's stock valued at $8,831,000 after acquiring an additional 59,671 shares in the last quarter. 3.26% of the stock is owned by institutional investors and hedge funds.

Mizuho Financial Group Stock Performance

NYSE MFG traded down $0.06 during trading hours on Monday, hitting $6.62. The company had a trading volume of 1,646,591 shares, compared to its average volume of 1,986,212. Mizuho Financial Group, Inc. has a fifty-two week low of $3.91 and a fifty-two week high of $6.79. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.21. The business has a fifty day simple moving average of $5.99 and a 200-day simple moving average of $5.56. The firm has a market cap of $83.33 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 0.88 and a beta of 0.37.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last issued its earnings results on Thursday, July 31st. The bank reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. Mizuho Financial Group had a return on equity of 8.48% and a net margin of 10.16%.The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.42 billion. Equities analysts predict that Mizuho Financial Group, Inc. will post 0.42 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MFG shares. Zacks Research lowered Mizuho Financial Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. Wall Street Zen raised Mizuho Financial Group from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Mizuho Financial Group has an average rating of "Hold".

About Mizuho Financial Group

Mizuho Financial Group, Inc, together with its subsidiaries, engages in banking, trust, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally. It operates through Retail & Business Banking Company, Corporate & Institutional Company, Global Corporate Company, Global Markets Company, Asset Management Company, and Others segments.