Vestmark Advisory Solutions Inc. Purchases Shares of 16,024 Sumitomo Mitsui Financial Group Inc $SMFG

Vestmark Advisory Solutions Inc. purchased a new stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,024 shares of the bank’s stock, valued at approximately $242,000.

Several other large investors also recently bought and sold shares of the stock. Natixis Advisors LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 59.8% in the 1st quarter. Natixis Advisors LLC now owns 1,439,197 shares of the bank’s stock valued at $22,250,000 after purchasing an additional 538,823 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Sumitomo Mitsui Financial Group by 19.7% in the second quarter. Envestnet Asset Management Inc. now owns 2,302,411 shares of the bank’s stock valued at $34,789,000 after acquiring an additional 378,909 shares during the period. Allianz SE purchased a new position in shares of Sumitomo Mitsui Financial Group during the first quarter worth approximately $3,401,000. Myriad Asset Management US LP acquired a new position in shares of Sumitomo Mitsui Financial Group in the 2nd quarter valued at $2,561,000. Finally, Northern Trust Corp raised its position in Sumitomo Mitsui Financial Group by 3.2% in the 1st quarter. Northern Trust Corp now owns 5,188,817 shares of the bank’s stock valued at $80,219,000 after purchasing an additional 159,320 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SMFG. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Wednesday, October 8th. Zacks Research cut Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Stock Up 0.1%

Shares of NYSE:SMFG opened at $16.72 on Thursday. The stock’s fifty day simple moving average is $16.37 and its 200-day simple moving average is $15.65. Sumitomo Mitsui Financial Group Inc has a 52-week low of $11.83 and a 52-week high of $17.46. The company has a market capitalization of $107.46 billion, a P/E ratio of 17.59, a P/E/G ratio of 0.78 and a beta of 0.36. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.75.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.