QRG Capital Management Inc. Has $10.79 Million Stake in Mitsubishi UFJ Financial Group, Inc. $MUFG

QRG Capital Management Inc. raised its stake in Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) by 7.8% in the first quarter, Holdings Channel reports. The fund owned 635,592 shares of the company’s stock after purchasing an additional 45,967 shares during the quarter. QRG Capital Management Inc.’s holdings in Mitsubishi UFJ Financial Group were worth $10,786,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Laurel Wealth Advisors LLC acquired a new position in Mitsubishi UFJ Financial Group during the 4th quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new stake in Mitsubishi UFJ Financial Group in the third quarter valued at approximately $34,000. Sound Income Strategies LLC grew its stake in shares of Mitsubishi UFJ Financial Group by 716.4% during the fourth quarter. Sound Income Strategies LLC now owns 2,482 shares of the company’s stock worth $39,000 after buying an additional 2,178 shares during the last quarter. Root Financial Partners LLC grew its stake in shares of Mitsubishi UFJ Financial Group by 96.2% during the fourth quarter. Root Financial Partners LLC now owns 2,562 shares of the company’s stock worth $41,000 after buying an additional 1,256 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Mitsubishi UFJ Financial Group by 206.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,168 shares of the company’s stock worth $50,000 after buying an additional 2,133 shares in the last quarter. 13.59% of the stock is currently owned by institutional investors and hedge funds.

Mitsubishi UFJ Financial Group Price Performance

Shares of NYSE MUFG opened at $20.65 on Friday. The company has a 50 day simple moving average of $19.30 and a 200 day simple moving average of $18.17. Mitsubishi UFJ Financial Group, Inc. has a 1 year low of $13.19 and a 1 year high of $21.17. The firm has a market cap of $245.07 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 0.83 and a beta of 0.39.

Mitsubishi UFJ Financial Group (NYSE:MUFG) last posted its earnings results on Saturday, May 16th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.13. Mitsubishi UFJ Financial Group had a net margin of 16.65% and a return on equity of 11.07%. The firm had revenue of $15.36 billion for the quarter, compared to analyst estimates of $9.34 billion. As a group, research analysts anticipate that Mitsubishi UFJ Financial Group, Inc. will post 1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MUFG. Mitsubishi UFJ Financial Group started coverage on Mitsubishi UFJ Financial Group in a research note on Thursday, June 25th. They issued a “buy” rating for the company. Weiss Ratings upgraded Mitsubishi UFJ Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Finally, Erste Group Bank began coverage on Mitsubishi UFJ Financial Group in a report on Thursday, June 25th. They issued a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Mitsubishi UFJ Financial Group currently has an average rating of “Buy”.

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.