Bessemer Group Inc. Sells 4,235 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Bessemer Group Inc. reduced its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 69.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,837 shares of the bank’s stock after selling 4,235 shares during the quarter. Bessemer Group Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $28,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Trust Co. NA boosted its stake in shares of Sumitomo Mitsui Financial Group by 1,044.1% during the 1st quarter. Private Trust Co. NA now owns 2,334 shares of the bank’s stock worth $36,000 after acquiring an additional 2,130 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Sumitomo Mitsui Financial Group during the 1st quarter worth approximately $42,000. Geneos Wealth Management Inc. boosted its stake in shares of Sumitomo Mitsui Financial Group by 41.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock worth $49,000 after acquiring an additional 930 shares during the period. TD Private Client Wealth LLC boosted its stake in Sumitomo Mitsui Financial Group by 823.7% in the 1st quarter. TD Private Client Wealth LLC now owns 4,138 shares of the bank’s stock valued at $64,000 after purchasing an additional 3,690 shares during the period. Finally, Brooklyn Investment Group boosted its stake in Sumitomo Mitsui Financial Group by 654.7% in the 1st quarter. Brooklyn Investment Group now owns 5,947 shares of the bank’s stock valued at $92,000 after purchasing an additional 5,159 shares during the period. 3.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SMFG shares. Zacks Research upgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Sumitomo Mitsui Financial Group Stock Performance

NYSE:SMFG opened at $16.14 on Thursday. The stock has a fifty day moving average price of $16.36 and a 200-day moving average price of $15.55. The company has a market cap of $103.76 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.78 and a beta of 0.36. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.03 and a current ratio of 1.03. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $11.83 and a fifty-two week high of $17.46.

About Sumitomo Mitsui Financial Group

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.