Goldman Sachs Group Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG – Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,997,774 shares of the bank’s stock after acquiring an additional 161,026 shares during the period. Goldman Sachs Group Inc. owned approximately 0.17% of Sumitomo Mitsui Financial Group worth $212,587,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Northern Trust Corp increased its position in shares of Sumitomo Mitsui Financial Group by 2.6% during the third quarter. Northern Trust Corp now owns 5,743,128 shares of the bank’s stock worth $96,140,000 after acquiring an additional 147,963 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sumitomo Mitsui Financial Group by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,886,033 shares of the bank’s stock worth $48,312,000 after acquiring an additional 9,022 shares in the last quarter. American Century Companies Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 16.9% during the third quarter. American Century Companies Inc. now owns 2,036,709 shares of the bank’s stock worth $34,095,000 after acquiring an additional 294,124 shares in the last quarter. Bank of America Corp DE increased its position in shares of Sumitomo Mitsui Financial Group by 4.4% during the second quarter. Bank of America Corp DE now owns 1,921,712 shares of the bank’s stock worth $29,037,000 after acquiring an additional 81,103 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Sumitomo Mitsui Financial Group by 8.0% during the fourth quarter. Fisher Asset Management LLC now owns 1,646,997 shares of the bank’s stock worth $31,836,000 after acquiring an additional 122,562 shares in the last quarter. 3.85% of the stock is owned by institutional investors.
Analyst Ratings Changes
SMFG has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Friday, May 22nd. Finally, Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Sumitomo Mitsui Financial Group has a consensus rating of “Buy”.
Sumitomo Mitsui Financial Group Stock Down 1.9%
Sumitomo Mitsui Financial Group stock opened at $23.14 on Friday. Sumitomo Mitsui Financial Group Inc has a twelve month low of $14.40 and a twelve month high of $24.33. The firm has a 50 day moving average price of $21.44 and a 200-day moving average price of $20.66. The company has a market capitalization of $147.63 billion, a P/E ratio of 17.27, a P/E/G ratio of 0.63 and a beta of 0.43.
Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Free Report) last released its earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.57%. The firm had revenue of $7.31 billion during the quarter. Equities analysts expect that Sumitomo Mitsui Financial Group Inc will post 1.83 EPS for the current fiscal year.
Sumitomo Mitsui Financial Group Profile
Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.
The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.
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