Sumitomo Mitsui Financial Group Inc $SMFG Shares Sold by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd lowered its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 34.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,657 shares of the bank’s stock after selling 12,000 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Sumitomo Mitsui Financial Group were worth $342,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 20.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 579,277 shares of the bank’s stock valued at $8,956,000 after buying an additional 96,494 shares during the period. Park Avenue Securities LLC boosted its holdings in Sumitomo Mitsui Financial Group by 13.4% during the 2nd quarter. Park Avenue Securities LLC now owns 221,149 shares of the bank’s stock valued at $3,342,000 after acquiring an additional 26,173 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Sumitomo Mitsui Financial Group by 0.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,271,361 shares of the bank’s stock valued at $174,255,000 after acquiring an additional 53,612 shares during the period. Cordatus Wealth Management LLC acquired a new position in Sumitomo Mitsui Financial Group in the 1st quarter valued at about $570,000. Finally, Allianz SE purchased a new stake in Sumitomo Mitsui Financial Group during the first quarter worth about $3,401,000. 3.85% of the stock is owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Stock Up 2.7%

Shares of NYSE:SMFG opened at $17.87 on Thursday. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $11.83 and a fifty-two week high of $17.93. The firm’s 50 day moving average price is $16.46 and its 200 day moving average price is $15.86. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.75. The stock has a market cap of $114.85 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 0.78 and a beta of 0.36.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its earnings results on Friday, November 14th. The bank reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.19. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $7.41 billion. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. As a group, equities research analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on SMFG shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Zacks Research downgraded shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Sumitomo Mitsui Financial Group presently has a consensus rating of “Moderate Buy”.

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.