Sumitomo Mitsui Financial Group (NYSE:SMFG) Cut to Sell at StockNews.com

StockNews.com lowered shares of Sumitomo Mitsui Financial Group (NYSE:SMFG) from a hold rating to a sell rating in a research report sent to investors on Friday.

Sumitomo Mitsui Financial Group Stock Performance

NYSE:SMFG opened at $13.96 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.92. The firm has a market cap of $91.31 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 3.16 and a beta of 0.59. Sumitomo Mitsui Financial Group has a twelve month low of $9.16 and a twelve month high of $14.53. The company has a 50-day moving average of $12.92 and a 200-day moving average of $12.97.

Insider Activity

In other Sumitomo Mitsui Financial Group news, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were bought at an average price of $59.67 per share, for a total transaction of $551,773,323.27. Following the acquisition, the director now directly owns 9,247,081 shares of the company’s stock, valued at approximately $551,773,323.27. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Several institutional investors and hedge funds have recently modified their holdings of SMFG. FMR LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 5.0% during the 3rd quarter. FMR LLC now owns 7,193,840 shares of the bank’s stock worth $90,858,000 after acquiring an additional 342,604 shares in the last quarter. American Century Companies Inc. increased its holdings in Sumitomo Mitsui Financial Group by 5.4% in the 2nd quarter. American Century Companies Inc. now owns 1,344,869 shares of the bank’s stock valued at $18,035,000 after buying an additional 69,145 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Sumitomo Mitsui Financial Group by 266.5% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,800 shares of the bank’s stock valued at $8,258,000 after buying an additional 447,800 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 7.2% during the 2nd quarter. Natixis Advisors LLC now owns 588,690 shares of the bank’s stock worth $7,894,000 after acquiring an additional 39,412 shares during the period. Finally, Quantinno Capital Management LP boosted its position in shares of Sumitomo Mitsui Financial Group by 23.5% during the 3rd quarter. Quantinno Capital Management LP now owns 546,173 shares of the bank’s stock valued at $6,898,000 after acquiring an additional 103,810 shares in the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Company Profile

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.