Osaic Holdings Inc. Buys 490,506 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Osaic Holdings Inc. lifted its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 846.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 548,474 shares of the bank’s stock after purchasing an additional 490,506 shares during the period. Osaic Holdings Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $8,465,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 137.4% in the 2nd quarter. Fisher Asset Management LLC now owns 1,357,193 shares of the bank’s stock worth $20,507,000 after buying an additional 785,443 shares during the period. Orion Porfolio Solutions LLC lifted its stake in Sumitomo Mitsui Financial Group by 606.2% in the second quarter. Orion Porfolio Solutions LLC now owns 709,707 shares of the bank’s stock worth $10,724,000 after acquiring an additional 609,212 shares during the period. Westfield Capital Management Co. LP bought a new position in Sumitomo Mitsui Financial Group during the 2nd quarter worth about $8,188,000. Massar Capital Management LP purchased a new position in Sumitomo Mitsui Financial Group during the 2nd quarter valued at about $7,555,000. Finally, Envestnet Asset Management Inc. increased its position in Sumitomo Mitsui Financial Group by 19.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,302,411 shares of the bank’s stock valued at $34,789,000 after purchasing an additional 378,909 shares during the period. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Stock Up 1.3%

Shares of Sumitomo Mitsui Financial Group stock opened at $19.29 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 1.65. The company has a market cap of $123.64 billion, a P/E ratio of 16.34, a PEG ratio of 0.93 and a beta of 0.37. The firm’s 50 day moving average price is $17.23 and its 200-day moving average price is $16.33. Sumitomo Mitsui Financial Group Inc has a 52-week low of $11.83 and a 52-week high of $19.83.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its earnings results on Friday, November 14th. The bank reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.19. Sumitomo Mitsui Financial Group had a net margin of 13.80% and a return on equity of 9.14%. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $7.41 billion. On average, sell-side analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Zacks Research cut shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

About Sumitomo Mitsui Financial Group

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.