Fisher Asset Management LLC trimmed its position in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG – Free Report) by 18.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,231 shares of the bank’s stock after selling 4,363 shares during the period. Fisher Asset Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $154,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of Sumitomo Mitsui Financial Group by 4,169.7% in the 1st quarter. Invesco Ltd. now owns 4,154,809 shares of the bank’s stock worth $26,051,000 after purchasing an additional 4,057,499 shares during the last quarter. Jane Street Group LLC increased its position in shares of Sumitomo Mitsui Financial Group by 8,028.0% in the 2nd quarter. Jane Street Group LLC now owns 4,035,459 shares of the bank’s stock worth $23,809,000 after purchasing an additional 3,985,810 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Sumitomo Mitsui Financial Group by 526.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,557,985 shares of the bank’s stock worth $16,039,000 after purchasing an additional 2,149,935 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 16.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 9,482,362 shares of the bank’s stock worth $55,947,000 after purchasing an additional 1,324,493 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth about $5,811,000. 1.59% of the stock is owned by institutional investors and hedge funds.
Sumitomo Mitsui Financial Group Price Performance
Shares of NYSE:SMFG opened at $9.16 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.02. Sumitomo Mitsui Financial Group, Inc. has a fifty-two week low of $5.39 and a fifty-two week high of $9.34. The firm has a 50-day simple moving average of $8.50 and a 200 day simple moving average of $8.45. The company has a market cap of $61.24 billion, a PE ratio of 10.53, a P/E/G ratio of 1.89 and a beta of 0.68.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. StockNews.com initiated coverage on shares of Sumitomo Mitsui Financial Group in a research report on Thursday, May 18th. They issued a “hold” rating for the company. The Goldman Sachs Group downgraded shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “neutral” rating in a research report on Thursday, July 20th.
Sumitomo Mitsui Financial Group 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.
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