Ninepoint Partners LP Acquires Shares of 106,929 Sumitomo Mitsui Financial Group Inc $SMFG

Ninepoint Partners LP bought a new position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 106,929 shares of the bank’s stock, valued at approximately $2,521,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SMFG. Ascentis Independent Advisors bought a new position in shares of Sumitomo Mitsui Financial Group in the first quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. bought a new stake in Sumitomo Mitsui Financial Group during the third quarter worth $29,000. Bayban bought a new stake in Sumitomo Mitsui Financial Group during the fourth quarter worth $30,000. Northwestern Mutual Wealth Management Co. boosted its position in Sumitomo Mitsui Financial Group by 163.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after purchasing an additional 1,227 shares during the last quarter. Finally, Park Square Financial Group LLC boosted its position in Sumitomo Mitsui Financial Group by 58.0% in the fourth quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock worth $31,000 after purchasing an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SMFG. Weiss Ratings lowered Sumitomo Mitsui Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Insider Buying and Selling at Sumitomo Mitsui Financial Group

In other news, CFO Kazuyuki Anchi sold 4,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $42.47, for a total transaction of $169,880.00. Following the completion of the transaction, the chief financial officer owned 48,857 shares in the company, valued at approximately $2,074,956.79. This represents a 7.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.05% of the company’s stock.

Sumitomo Mitsui Financial Group Price Performance

Sumitomo Mitsui Financial Group stock opened at $24.57 on Friday. The business’s 50 day simple moving average is $25.20 and its 200 day simple moving average is $22.82. Sumitomo Mitsui Financial Group Inc has a 12 month low of $15.18 and a 12 month high of $26.67. The company has a market cap of $156.80 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 0.97 and a beta of 0.42. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.65.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Tuesday, June 30th. The bank reported $0.49 earnings per share (EPS) for the quarter. The business had revenue of $8.71 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.65% and a net margin of 16.24%. Sell-side analysts forecast that Sumitomo Mitsui Financial Group Inc will post 1.81 EPS for the current year.

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.