Barometer Capital Management Inc. Buys 29,000 Shares of Mitsubishi UFJ Financial Group, Inc. $MUFG

Barometer Capital Management Inc. raised its stake in Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) by 48.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 88,700 shares of the company’s stock after purchasing an additional 29,000 shares during the quarter. Barometer Capital Management Inc.’s holdings in Mitsubishi UFJ Financial Group were worth $1,505,000 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 bought a new stake in Mitsubishi UFJ Financial Group during the fourth quarter worth about $26,000. Whipplewood Advisors LLC bought a new position in shares of Mitsubishi UFJ Financial Group during the 1st quarter valued at about $29,000. JPL Wealth Management LLC purchased a new position in shares of Mitsubishi UFJ Financial Group during the 3rd quarter valued at about $34,000. Sound Income Strategies LLC raised its holdings in shares of Mitsubishi UFJ Financial Group by 716.4% during the 4th quarter. Sound Income Strategies LLC now owns 2,482 shares of the company’s stock valued at $39,000 after buying an additional 2,178 shares in the last quarter. Finally, Root Financial Partners LLC lifted its position in Mitsubishi UFJ Financial Group by 96.2% in the 4th 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. 13.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Mitsubishi UFJ Financial Group Stock Up 3.4%

Shares of NYSE MUFG opened at $22.14 on Wednesday. The firm’s fifty day moving average is $20.24 and its 200 day moving average is $18.68. Mitsubishi UFJ Financial Group, Inc. has a 52 week low of $13.56 and a 52 week high of $22.83. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.75. The company has a market cap of $262.69 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.03 and a beta of 0.39.

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.