Ramirez Asset Management Inc. Takes Position in Mizuho Financial Group, Inc. $MFG

Ramirez Asset Management Inc. acquired a new position in Mizuho Financial Group, Inc. (NYSE:MFG) in the third quarter, HoldingsChannel.com reports. The firm acquired 1,082,290 shares of the bank’s stock, valued at approximately $7,251,000. Mizuho Financial Group comprises about 1.0% of Ramirez Asset Management Inc.’s investment portfolio, making the stock its 27th largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC boosted its stake in Mizuho Financial Group by 2,673.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 4,160 shares of the bank’s stock valued at $27,000 after purchasing an additional 4,010 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of Mizuho Financial Group in the third quarter worth $28,000. Bessemer Group Inc. raised its stake in shares of Mizuho Financial Group by 38.6% in the third quarter. Bessemer Group Inc. now owns 7,901 shares of the bank’s stock worth $54,000 after purchasing an additional 2,201 shares during the last quarter. Brighton Jones LLC lifted its holdings in shares of Mizuho Financial Group by 19.3% during the fourth quarter. Brighton Jones LLC now owns 12,343 shares of the bank’s stock valued at $60,000 after purchasing an additional 1,998 shares in the last quarter. Finally, MAI Capital Management lifted its holdings in shares of Mizuho Financial Group by 385.9% during the second quarter. MAI Capital Management now owns 11,331 shares of the bank’s stock valued at $63,000 after purchasing an additional 8,999 shares in the last quarter. 3.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Mizuho Financial Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Mizuho Financial Group presently has a consensus rating of “Moderate Buy”.

Mizuho Financial Group Trading Down 1.0%

Shares of MFG stock opened at $8.06 on Friday. Mizuho Financial Group, Inc. has a 12-month low of $4.04 and a 12-month high of $10.28. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.72. The firm’s 50 day moving average is $8.63 and its 200 day moving average is $7.41. The stock has a market capitalization of $100.17 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.64 and a beta of 0.36.

Mizuho Financial Group (NYSE:MFG) last posted its earnings results on Monday, February 2nd. The bank reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $5.58 billion. Mizuho Financial Group had a net margin of 12.31% and a return on equity of 9.23%. Research analysts expect that Mizuho Financial Group, Inc. will post 0.42 earnings per share for the current year.

Mizuho Financial Group Company Profile

Mizuho Financial Group, Inc is a major Japanese banking and financial services holding company headquartered in Tokyo. The group operates through a network of subsidiaries that provide a full range of retail, corporate and investment banking services. Its core businesses include deposit-taking and lending, transaction banking, cash management, trade finance and treasury services for both individual and institutional clients.

Beyond traditional commercial banking, Mizuho offers securities and capital markets services, investment banking, underwriting, M&A advisory, and asset management through its securities and trust banking arms.