Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 16.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,177,057 shares of the bank’s stock after purchasing an additional 302,550 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $13,497,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SMFG. Mercer Global Advisors Inc. ADV grew its stake in Sumitomo Mitsui Financial Group by 0.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 162,275 shares of the bank’s stock worth $1,301,000 after buying an additional 1,322 shares during the last quarter. Glassman Wealth Services grew its position in shares of Sumitomo Mitsui Financial Group by 38.5% during the first quarter. Glassman Wealth Services now owns 5,036 shares of the bank’s stock worth $40,000 after acquiring an additional 1,399 shares during the last quarter. UBS Group AG increased its holdings in shares of Sumitomo Mitsui Financial Group by 5.0% in the 4th quarter. UBS Group AG now owns 37,737 shares of the bank’s stock worth $303,000 after acquiring an additional 1,804 shares during the period. Y Intercept Hong Kong Ltd lifted its position in Sumitomo Mitsui Financial Group by 3.5% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 54,766 shares of the bank’s stock valued at $438,000 after purchasing an additional 1,858 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Sumitomo Mitsui Financial Group by 9.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 25,927 shares of the bank’s stock valued at $207,000 after purchasing an additional 2,263 shares during the last quarter. Institutional investors own 1.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SMFG shares. StockNews.com began coverage on shares of Sumitomo Mitsui Financial Group in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. The Goldman Sachs Group lowered Sumitomo Mitsui Financial Group from a “buy” rating to a “neutral” rating in a report on Thursday, July 20th.

Sumitomo Mitsui Financial Group Stock Up 2.0 %

SMFG stock opened at $9.28 on Monday. The firm’s 50-day moving average is $8.90 and its two-hundred day moving average is $8.50. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $62.06 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 1.98 and a beta of 0.69. Sumitomo Mitsui Financial Group, Inc. has a 52 week low of $5.39 and a 52 week high of $9.58.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Monday, July 31st. The bank reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. Sumitomo Mitsui Financial Group had a return on equity of 6.62% and a net margin of 11.19%. The firm had revenue of $16.56 billion during the quarter. On average, analysts forecast that Sumitomo Mitsui Financial Group, Inc. will post 0.88 earnings per share for the current fiscal year.

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.