Lazard Asset Management LLC Sells 7,656,003 Shares of Mizuho Financial Group, Inc. $MFG

Lazard Asset Management LLC cut its stake in shares of Mizuho Financial Group, Inc. (NYSE:MFG) by 72.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,851,067 shares of the bank’s stock after selling 7,656,003 shares during the quarter. Lazard Asset Management LLC’s holdings in Mizuho Financial Group were worth $22,637,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Morgan Stanley increased its stake in shares of Mizuho Financial Group by 5.7% in the fourth quarter. Morgan Stanley now owns 59,084,500 shares of the bank’s stock valued at $432,499,000 after buying an additional 3,166,984 shares during the period. Natixis Advisors LLC boosted its holdings in Mizuho Financial Group by 590.7% in the fourth quarter. Natixis Advisors LLC now owns 16,560,891 shares of the bank’s stock valued at $121,226,000 after acquiring an additional 14,163,328 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Mizuho Financial Group by 11.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 16,266,878 shares of the bank’s stock valued at $119,074,000 after acquiring an additional 1,716,932 shares during the last quarter. Bank of America Corp DE increased its position in Mizuho Financial Group by 1.7% during the 3rd quarter. Bank of America Corp DE now owns 12,602,417 shares of the bank’s stock valued at $84,436,000 after purchasing an additional 216,330 shares during the period. Finally, Northern Trust Corp raised its holdings in Mizuho Financial Group by 1.7% during the 3rd quarter. Northern Trust Corp now owns 10,314,793 shares of the bank’s stock worth $69,109,000 after purchasing an additional 167,604 shares during the last quarter. Institutional investors own 3.26% of the company’s stock.

Mizuho Financial Group Trading Down 4.4%

NYSE MFG opened at $10.11 on Wednesday. Mizuho Financial Group, Inc. has a 52 week low of $5.74 and a 52 week high of $10.78. The company has a market cap of $124.81 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 0.86 and a beta of 0.46. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.82. The business has a 50 day moving average price of $9.84 and a 200-day moving average price of $9.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b+)” rating on shares of Mizuho Financial Group in a research report on Friday, May 1st. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

About Mizuho Financial Group

Mizuho Financial Group, Inc is a major Japanese banking and financial services holding company headquartered in Tokyo. The group operates through a network of subsidiaries that provide a full range of retail, corporate and investment banking services. Its core businesses include deposit-taking and lending, transaction banking, cash management, trade finance and treasury services for both individual and institutional clients.

Beyond traditional commercial banking, Mizuho offers securities and capital markets services, investment banking, underwriting, M&A advisory, and asset management through its securities and trust banking arms.