UBS Group AG Has $14.14 Million Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

UBS Group AG raised its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 96.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 731,255 shares of the bank’s stock after purchasing an additional 359,394 shares during the quarter. UBS Group AG’s holdings in Sumitomo Mitsui Financial Group were worth $14,135,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Bridgewater Advisors Inc. lifted its holdings in Sumitomo Mitsui Financial Group by 2.2% during the 4th quarter. Bridgewater Advisors Inc. now owns 24,656 shares of the bank’s stock valued at $513,000 after purchasing an additional 530 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in Sumitomo Mitsui Financial Group by 76.8% during the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after purchasing an additional 610 shares during the last quarter. Aprio Wealth Management LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 3.9% during the third quarter. Aprio Wealth Management LLC now owns 16,517 shares of the bank’s stock worth $276,000 after buying an additional 626 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 2.6% during the third quarter. Pzena Investment Management LLC now owns 24,687 shares of the bank’s stock worth $413,000 after buying an additional 635 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Sumitomo Mitsui Financial Group by 2.1% during the third quarter. Versant Capital Management Inc now owns 31,219 shares of the bank’s stock worth $523,000 after buying an additional 656 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Stock Performance

SMFG opened at $22.32 on Thursday. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $14.27 and a fifty-two week high of $24.33. The company has a market capitalization of $142.35 billion, a P/E ratio of 18.60, a P/E/G ratio of 0.72 and a beta of 0.43. The stock has a fifty day moving average of $20.52 and a 200-day moving average of $19.95.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 9.38% and a net margin of 13.81%.The company had revenue of $7.31 billion during the quarter. On average, equities research analysts predict that Sumitomo Mitsui Financial Group Inc will post 1.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SMFG. Zacks Research raised Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Wall Street Zen downgraded Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

Sumitomo Mitsui Financial Group Company 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.