Mitsubishi UFJ Financial Group (NYSE:MUFG) Reaches New 52-Week High – Here’s Why

Shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) hit a new 52-week high during trading on Friday . The stock traded as high as $22.96 and last traded at $22.96, with a volume of 6346 shares trading hands. The stock had previously closed at $22.62.

Wall Street Analyst Weigh In

MUFG has been the subject of a number of analyst reports. Mitsubishi UFJ Financial Group began coverage on shares of Mitsubishi UFJ Financial Group in a research note on Thursday, June 25th. They set a “buy” rating for the company. Weiss Ratings downgraded shares of Mitsubishi UFJ Financial Group from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Finally, Erste Group Bank assumed coverage on shares of Mitsubishi UFJ Financial Group in a report on Thursday, June 25th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Mitsubishi UFJ Financial Group currently has a consensus rating of “Moderate Buy”.

Mitsubishi UFJ Financial Group Trading Up 1.3%

The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $271.95 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.10 and a beta of 0.39. The stock has a 50-day simple moving average of $20.48 and a two-hundred day simple moving average of $18.81.

Institutional Investors Weigh In On Mitsubishi UFJ Financial Group

A number of large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank lifted its holdings in shares of Mitsubishi UFJ Financial Group by 251.7% during the 4th quarter. Toronto Dominion Bank now owns 4,816,589 shares of the company’s stock valued at $76,391,000 after buying an additional 3,447,183 shares during the period. Fisher Asset Management LLC grew its holdings in Mitsubishi UFJ Financial Group by 2.0% during the fourth 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. 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 valued at $106,741,000 after purchasing an additional 1,121,241 shares during the period. DV Equities LLC purchased a new stake in Mitsubishi UFJ Financial Group in the fourth quarter worth about $13,543,000. Finally, UBS Group AG increased its position in Mitsubishi UFJ Financial Group by 48.9% in the fourth quarter. UBS Group AG now owns 2,350,819 shares of the company’s stock worth $37,284,000 after buying an additional 772,272 shares in 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.