Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) Stock Position Decreased by Cowen Investment Management LLC

Cowen Investment Management LLC lowered its stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,360,600 shares of the bank’s stock after selling 25,000 shares during the quarter. Sumitomo Mitsui Financial Group accounts for 18.5% of Cowen Investment Management LLC’s holdings, making the stock its biggest holding. Cowen Investment Management LLC owned approximately 0.15% of Sumitomo Mitsui Financial Group worth $71,385,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SMFG. Bank of New York Mellon Corp grew its position in shares of Sumitomo Mitsui Financial Group by 11.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 704,377 shares of the bank’s stock worth $4,853,000 after buying an additional 73,836 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in Sumitomo Mitsui Financial Group by 9.1% in the second quarter. Eagle Asset Management Inc. now owns 84,849 shares of the bank’s stock valued at $584,000 after purchasing an additional 7,094 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in Sumitomo Mitsui Financial Group by 14.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 120,429 shares of the bank’s stock valued at $830,000 after purchasing an additional 15,499 shares during the period. Ethic Inc. lifted its position in Sumitomo Mitsui Financial Group by 159.3% during the second quarter. Ethic Inc. now owns 151,602 shares of the bank’s stock worth $1,045,000 after buying an additional 93,142 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in Sumitomo Mitsui Financial Group by 42.9% during the second quarter. O Shaughnessy Asset Management LLC now owns 487,144 shares of the bank’s stock worth $3,356,000 after buying an additional 146,348 shares in the last quarter. 1.83% of the stock is currently owned by institutional investors.

Separately, Zacks Investment Research upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 16th.

SMFG traded up $0.05 on Wednesday, hitting $7.20. 18,387 shares of the company were exchanged, compared to its average volume of 1,304,631. Sumitomo Mitsui Financial Group, Inc. has a twelve month low of $5.40 and a twelve month high of $7.95. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.43. The company has a market cap of $49.48 billion, a price-to-earnings ratio of 8.31 and a beta of 0.97. The firm has a 50-day moving average price of $6.94 and a two-hundred day moving average price of $7.11.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its quarterly earnings data on Friday, July 30th. The bank reported $0.27 earnings per share (EPS) for the quarter. The business had revenue of $8.69 billion for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 5.73% and a net margin of 16.18%. Equities analysts expect that Sumitomo Mitsui Financial Group, Inc. will post 0.93 EPS for the current year.

Sumitomo Mitsui Financial Group Profile

Sumitomo Mitsui Financial Group, Inc operates as a holding company, which engages in the management of its subsidiaries that provide financial services. It operates through the following segments: Commercial Banking, Leasing, Securities, and Consumer Finance. The Commercial Banking segment consists of consumer banking, middle market banking, wholesale banking, retail banking, international banking, and treasury units.

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Institutional Ownership by Quarter for Sumitomo Mitsui Financial Group (NYSE:SMFG)

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