RNC Capital Management LLC Increases Stock Holdings in Mitsubishi UFJ Financial Group, Inc. $MUFG

RNC Capital Management LLC lifted its stake in shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) by 13.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,220 shares of the company’s stock after buying an additional 5,870 shares during the period. RNC Capital Management LLC’s holdings in Mitsubishi UFJ Financial Group were worth $675,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Mitsubishi UFJ Financial Group by 23.0% during the first quarter. GAMMA Investing LLC now owns 44,607 shares of the company’s stock worth $608,000 after purchasing an additional 8,349 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Mitsubishi UFJ Financial Group during the first quarter worth about $143,000. Janney Montgomery Scott LLC boosted its holdings in Mitsubishi UFJ Financial Group by 1.3% during the first quarter. Janney Montgomery Scott LLC now owns 119,616 shares of the company’s stock worth $1,630,000 after purchasing an additional 1,497 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Mitsubishi UFJ Financial Group by 15.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 144,537 shares of the company’s stock worth $1,970,000 after purchasing an additional 19,255 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Mitsubishi UFJ Financial Group by 14.2% during the first quarter. Bessemer Group Inc. now owns 356,442 shares of the company’s stock worth $4,859,000 after purchasing an additional 44,231 shares during the last quarter. Hedge funds and other institutional investors own 13.59% of the company’s stock.

Mitsubishi UFJ Financial Group Stock Performance

NYSE MUFG opened at $15.02 on Thursday. The company’s 50 day moving average is $15.47 and its 200-day moving average is $14.03. Mitsubishi UFJ Financial Group, Inc. has a 12-month low of $10.15 and a 12-month high of $16.24. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.86. The firm has a market cap of $181.22 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 1.11 and a beta of 0.38.

Mitsubishi UFJ Financial Group (NYSE:MUFG) last posted its earnings results on Monday, August 4th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $22.10 billion for the quarter, compared to analyst estimates of $9.86 billion. Mitsubishi UFJ Financial Group had a net margin of 13.95% and a return on equity of 9.35%. Sell-side analysts predict that Mitsubishi UFJ Financial Group, Inc. will post 0.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MUFG shares. Zacks Research upgraded shares of Mitsubishi UFJ Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Mitsubishi UFJ Financial Group in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Mitsubishi UFJ Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Mitsubishi UFJ Financial Group Profile

Mitsubishi UFJ Financial Group, Inc operates as the bank holding company, that engages in a range of financial businesses in Japan, the United States, Europe, Asia/Oceania, and internationally. It operates through seven segments: Digital Service, Retail & Commercial Banking, Japanese Corporate & Investment Banking, Global Commercial Banking, Asset Management & Investor Services, Global Corporate & Investment Banking, and Global Markets.