Mitsubishi UFJ Financial Group (NYSE:MUFG) Reaches New 1-Year High – Here’s What Happened

Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $21.73 and last traded at $21.9850, with a volume of 2124143 shares traded. The stock had previously closed at $21.65.

Analyst Ratings Changes

A number of brokerages recently issued reports on MUFG. Mitsubishi UFJ Financial Group assumed coverage on Mitsubishi UFJ Financial Group in a research report on Thursday, June 25th. They issued a “buy” rating on the stock. Erste Group Bank started coverage on Mitsubishi UFJ Financial Group in a research report on Thursday, June 25th. They set a “buy” rating for the company. Finally, Weiss Ratings raised shares of Mitsubishi UFJ Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Mitsubishi UFJ Financial Group Stock Up 2.5%

The company has a debt-to-equity ratio of 1.75, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s 50 day moving average is $19.87 and its two-hundred day moving average is $18.47. The firm has a market capitalization of $266.96 billion, a P/E ratio of 15.95, a PEG ratio of 0.86 and a beta of 0.39.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fisher Asset Management LLC raised its holdings in shares of Mitsubishi UFJ Financial Group by 2.0% in the 4th quarter. Fisher Asset Management LLC now owns 93,276,119 shares of the company’s stock valued at $1,479,359,000 after purchasing an additional 1,789,620 shares during the period. Goldman Sachs Group Inc. lifted its stake in Mitsubishi UFJ Financial Group by 0.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 14,011,482 shares of the company’s stock valued at $222,222,000 after purchasing an additional 104,327 shares during the last quarter. Northern Trust Corp grew its holdings in Mitsubishi UFJ Financial Group by 1.9% during the third quarter. Northern Trust Corp now owns 11,397,833 shares of the company’s stock worth $181,681,000 after purchasing an additional 211,265 shares during the period. Clearbridge Investments LLC grew its holdings in Mitsubishi UFJ Financial Group by 20.0% during the fourth quarter. Clearbridge Investments LLC now owns 6,730,203 shares of the company’s stock worth $106,741,000 after purchasing an additional 1,121,241 shares during the period. Finally, Royal Bank of Canada increased its position in Mitsubishi UFJ Financial Group by 5.7% during the first quarter. Royal Bank of Canada now owns 6,315,948 shares of the company’s stock worth $107,182,000 after buying an additional 338,881 shares during the last quarter. Institutional investors own 13.59% of the company’s stock.

About Mitsubishi UFJ Financial Group

Mitsubishi UFJ Financial Group, Inc (MUFG) is a Tokyo-based financial services holding company and one of Japan’s largest banking groups and among the world’s leading financial institutions. The group was formed through the integration of Mitsubishi Tokyo Financial Group and UFJ Holdings and operates a comprehensive suite of banking and financial services for retail, corporate, and institutional clients. MUFG’s core banking operations are conducted through its commercial banking arm and a network of domestic and international subsidiaries and affiliates.

MUFG offers a broad range of products and services including commercial and retail banking, corporate and investment banking, global transaction banking, trust banking, asset management, securities and brokerage services, credit cards, consumer finance, leasing and custody services.