Alliancebernstein LP Lowers Position in Mitsubishi UFJ Financial Group Inc (NYSE:MTU)

Claudine Rigal
Août 12, 2017

Alliancebernstein L.P. cut its stake in shares of Mitsubishi UFJ Financial Group Inc (NYSE:MTU) by 10.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. As of quarter end Renaissance Technologies LLC had bought a total of 459,271 shares growing its holdings by 23.8%. The institutional investor owned 131,325 shares of the bank's stock after buying an additional 35,317 shares during the period.

Other hedge funds also recently modified their holdings of the company. Finally, Parametric Portfolio Associates LLC increased its position in Mitsubishi UFJ Financial Group by 19.8% in the first quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Mitsubishi UFJ Financial Group during the second quarter worth about $109,000. Bank of America Corp DE increased its position in Mitsubishi UFJ Financial Group by 61.4% in the first quarter. Thornburg Investment Management Inc. now owns 4,683,534 shares of the bank's stock valued at $29,694,000 after buying an additional 2,027,302 shares in the last quarter.

07/10/2015 - Mitsubishi UFJ Financial Group Inc was upgraded to "outperform" by analysts at Macquarie. Proficio Capital Partners LLC boosted its position in shares of Mitsubishi UFJ Financial Group by 50.4% in the first quarter.

Mitsubishi UFJ Financial Group (NYSE MTU) traded down 3.62% during mid-day trading on Thursday, hitting $6.13. Aristotle Capital Management LLC now owns 24,405,996 shares of the bank's stock valued at $154,734,000 after buying an additional 1,370,803 shares during the period.

The company is so far trading up from yesterday's close of $6.13. The firm has a market capitalization of $81.45 billion, a PE ratio of 30.50 and a beta of 1.59.

Mitsubishi UFJ Financial Group Inc had its "neutral" rating reiterated by analysts at Goldman Sachs. Mitsubishi UFJ Financial Group has a 12 month low of $4.83 and a 12 month high of $7.01. It is now trading at $6.18 which is just under the 50 day moving average of $6.49 and which is marginally lower than the 200 day moving average of $6.47. The bank reported $0.20 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.15 by $0.05. Mitsubishi UFJ Financial Group had a return on equity of 6.59% and a net margin of 16.99%. Mitsubishi UFJ Financial Group earned a coverage optimism score of 0.26 on Accern's scale. The Company's segments include Integrated Retail Banking Business Group, Integrated Corporate Banking Business Group, Integrated Trust Assets Business Group, Integrated Global Business Group and Krungsri.

TRADEMARK VIOLATION NOTICE: This report was originally reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this story on another site, it was illegally copied and reposted in violation of USA & worldwide copyright law. The correct version of this news story can be accessed at https://transcriptdaily.com/2017/08/11/mitsubishi-ufj-financial-group-inc-nysemtu-position-increased-by-us-bancorp-de.html. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of "Buy" and an average target price of $7.50. BidaskClub raised shares of Mitsubishi UFJ Financial Group from a "sell" rating to a "hold" rating in a report on Friday, June 9th. The Company's services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, leasing and various fields of financial services.

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