Mitsubishi UFJ Financial Group (NYSE:MUFG) Hits New 52-Week High – Here’s What Happened

Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) reached a new 52-week high during trading on Monday . The company traded as high as $21.17 and last traded at $21.06, with a volume of 523495 shares traded. The stock had previously closed at $20.61.

Analysts Set New Price Targets

MUFG has been the subject of several research analyst reports. Mitsubishi UFJ Financial Group assumed coverage on Mitsubishi UFJ Financial Group in a research report on Thursday, June 25th. They issued a “buy” rating for the company. Erste Group Bank started coverage on Mitsubishi UFJ Financial Group in a research note on Thursday, June 25th. They issued a “buy” rating for the company. Finally, Weiss Ratings raised Mitsubishi UFJ Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report 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. According to MarketBeat.com, Mitsubishi UFJ Financial Group has an average rating of “Buy”.

Mitsubishi UFJ Financial Group Stock Performance

The firm’s 50-day moving average is $19.46 and its two-hundred day moving average is $18.26. The stock has a market cap of $252.40 billion, a P/E ratio of 15.08, a PEG ratio of 0.85 and a beta of 0.39.

Institutional Trading of Mitsubishi UFJ Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of Mitsubishi UFJ Financial Group by 43.8% in the 1st quarter. AQR Capital Management LLC now owns 334,909 shares of the company’s stock valued at $4,565,000 after purchasing an additional 101,930 shares during the last quarter. Focus Partners Wealth lifted its holdings in Mitsubishi UFJ Financial Group by 14.8% in the first quarter. Focus Partners Wealth now owns 15,959 shares of the company’s stock valued at $218,000 after buying an additional 2,058 shares during the period. Geneos Wealth Management Inc. boosted its stake in Mitsubishi UFJ Financial Group by 245.3% in the first quarter. Geneos Wealth Management Inc. now owns 4,790 shares of the company’s stock valued at $65,000 after acquiring an additional 3,403 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Mitsubishi UFJ Financial Group by 104.1% during the 1st quarter. Acadian Asset Management LLC now owns 41,909 shares of the company’s stock worth $571,000 after acquiring an additional 21,379 shares during the period. Finally, Sivia Capital Partners LLC raised its position in shares of Mitsubishi UFJ Financial Group by 68.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 35,190 shares of the company’s stock valued at $483,000 after acquiring an additional 14,347 shares during the last quarter. 13.59% of the stock is owned by institutional investors.

Mitsubishi UFJ Financial Group Company Profile

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.