SCS Capital Management LLC Purchases New Shares in Mitsubishi UFJ Financial Group, Inc. $MUFG

Key Points

• SCS Capital Management LLC has invested $2.59 million in Mitsubishi UFJ Financial Group, acquiring 190,237 shares in the first quarter.
• Analysts have upgraded Mitsubishi UFJ Financial Group's stock rating from "sell" to "hold" and subsequently to a "strong-buy", with a current consensus rating of "Strong Buy".
• The company's recent quarterly earnings report showed an EPS of $0.32, surpassing estimates and generating revenues of $22.10 billion.

SCS Capital Management LLC acquired a new stake in shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 190,237 shares of the company's stock, valued at approximately $2,593,000.

Several other institutional investors have also bought and sold shares of MUFG. Caitong International Asset Management Co. Ltd bought a new position in Mitsubishi UFJ Financial Group during the first quarter valued at $32,000. Nisa Investment Advisors LLC bought a new stake in shares of Mitsubishi UFJ Financial Group in the 1st quarter worth about $41,000. Financial Management Professionals Inc. lifted its holdings 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 worth $44,000 after acquiring an additional 1,754 shares during the last quarter. Olde Wealth Management LLC bought a new stake in shares of Mitsubishi UFJ Financial Group in the 1st quarter worth about $87,000. Finally, Paradigm Asset Management Co. LLC bought a new stake in shares of Mitsubishi UFJ Financial Group in the 1st quarter worth about $122,000. Institutional investors own 13.59% of the company's stock.

Mitsubishi UFJ Financial Group Price Performance

MUFG traded up $0.11 during midday trading on Monday, hitting $15.68. 972,185 shares of the company traded hands, compared to its average volume of 5,685,147. The business has a 50 day simple moving average of $14.62 and a two-hundred day simple moving average of $13.64. The company has a market capitalization of $189.16 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.13 and a beta of 0.39. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.86. Mitsubishi UFJ Financial Group, Inc. has a 52-week low of $9.85 and a 52-week high of $16.16.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Mitsubishi UFJ Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Zacks Research upgraded shares of Mitsubishi UFJ Financial Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock has an average rating of "Strong Buy".

Mitsubishi UFJ Financial Group Company 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.