188,992 Shares in Sumitomo Mitsui Financial Group Inc $SMFG Acquired by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. bought a new stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 188,992 shares of the bank’s stock, valued at approximately $3,164,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SMFG. AQR Capital Management LLC lifted its stake in shares of Sumitomo Mitsui Financial Group by 26.0% in the 1st quarter. AQR Capital Management LLC now owns 177,249 shares of the bank’s stock valued at $2,740,000 after acquiring an additional 36,522 shares during the last quarter. Focus Partners Wealth increased its holdings in Sumitomo Mitsui Financial Group by 40.5% in the 1st quarter. Focus Partners Wealth now owns 18,253 shares of the bank’s stock worth $282,000 after purchasing an additional 5,258 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Sumitomo Mitsui Financial Group by 41.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock worth $49,000 after purchasing an additional 930 shares in the last quarter. Acadian Asset Management LLC raised its position in Sumitomo Mitsui Financial Group by 336.4% in the first quarter. Acadian Asset Management LLC now owns 39,574 shares of the bank’s stock valued at $610,000 after purchasing an additional 30,506 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 43.9% during the second quarter. Sivia Capital Partners LLC now owns 32,398 shares of the bank’s stock valued at $490,000 after purchasing an additional 9,876 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

Analyst Ratings Changes

SMFG has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Monday, December 29th. Zacks Research lowered shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Finally, Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Sumitomo Mitsui Financial Group Stock Performance

Shares of SMFG stock opened at $23.39 on Friday. The firm has a 50 day moving average of $20.87 and a 200-day moving average of $18.15. The company has a market cap of $149.95 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 0.89 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 1.63. Sumitomo Mitsui Financial Group Inc has a 52 week low of $11.83 and a 52 week high of $24.33.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Friday, January 30th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.24). The company had revenue of $17.71 billion for the quarter, compared to analyst estimates of $7.93 billion. Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. On average, equities analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Sumitomo Mitsui Financial Group Company 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.