Sumitomo Mitsui Financial Group Inc $SMFG Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 13.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,995,065 shares of the bank’s stock after selling 307,346 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $33,397,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its holdings in Sumitomo Mitsui Financial Group by 137.4% in the second quarter. Fisher Asset Management LLC now owns 1,357,193 shares of the bank’s stock valued at $20,507,000 after buying an additional 785,443 shares in the last quarter. Orion Porfolio Solutions LLC grew its position in shares of Sumitomo Mitsui Financial Group by 606.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 709,707 shares of the bank’s stock valued at $10,724,000 after acquiring an additional 609,212 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of Sumitomo Mitsui Financial Group in the 2nd quarter valued at about $8,188,000. Massar Capital Management LP purchased a new position in shares of Sumitomo Mitsui Financial Group in the 2nd quarter valued at about $7,555,000. Finally, Osaic Holdings Inc. raised its holdings in Sumitomo Mitsui Financial Group by 846.2% in the 2nd quarter. Osaic Holdings Inc. now owns 548,474 shares of the bank’s stock worth $8,465,000 after purchasing an additional 490,506 shares during the period. 3.85% of the stock is owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Stock Up 1.5%

NYSE SMFG opened at $23.78 on Thursday. The business has a fifty day moving average price of $20.32 and a 200 day moving average price of $17.83. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $152.43 billion, a P/E ratio of 19.81, a P/E/G ratio of 0.91 and a beta of 0.36. Sumitomo Mitsui Financial Group Inc has a one year low of $11.83 and a one year high of $23.86.

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 business had revenue of $17.71 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Sumitomo Mitsui Financial Group had a return on equity of 9.38% and a net margin of 13.81%. Research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

SMFG has been the topic of several research analyst reports. Wall Street Zen lowered Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Monday, December 29th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

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.