Natixis Advisors LLC Cuts Stock Position in Sumitomo Mitsui Financial Group Inc $SMFG

Natixis Advisors LLC cut its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 14.3% in the fourth quarter, HoldingsChannel reports. The firm owned 602,784 shares of the bank’s stock after selling 100,341 shares during the quarter. Natixis Advisors LLC’s holdings in Sumitomo Mitsui Financial Group were worth $11,652,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SMFG. AQR Capital Management LLC boosted its stake in Sumitomo Mitsui Financial Group by 26.0% during the first quarter. AQR Capital Management LLC now owns 177,249 shares of the bank’s stock worth $2,740,000 after buying an additional 36,522 shares during the period. Focus Partners Wealth boosted its stake in Sumitomo Mitsui Financial Group by 40.5% during the first quarter. Focus Partners Wealth now owns 18,253 shares of the bank’s stock worth $282,000 after buying an additional 5,258 shares during the period. Geneos Wealth Management Inc. boosted its stake in Sumitomo Mitsui Financial Group by 41.6% during the first quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock worth $49,000 after buying an additional 930 shares during the period. Acadian Asset Management LLC boosted its stake in Sumitomo Mitsui Financial Group by 336.4% during the first quarter. Acadian Asset Management LLC now owns 39,574 shares of the bank’s stock worth $610,000 after buying an additional 30,506 shares during the period. Finally, Sivia Capital Partners LLC boosted its stake in 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 worth $490,000 after buying an additional 9,876 shares during the period. 3.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, Sumitomo Mitsui Financial Group currently has an average rating of “Buy”.

Sumitomo Mitsui Financial Group Trading Down 1.9%

Shares of SMFG opened at $23.14 on Friday. The firm has a market capitalization of $147.63 billion, a P/E ratio of 17.27, a P/E/G ratio of 0.63 and a beta of 0.43. Sumitomo Mitsui Financial Group Inc has a 12-month low of $14.40 and a 12-month high of $24.33. The firm has a fifty day moving average price of $21.44 and a 200-day moving average price of $20.66.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share (EPS) for the quarter. The firm had revenue of $7.31 billion during the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.57%. Analysts predict that Sumitomo Mitsui Financial Group Inc will post 1.83 earnings per share for the current year.

Sumitomo Mitsui Financial Group 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.