63,087 Sumitomo Mitsui Financial Group Inc $SMFG Shares Purchased by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its SMFG stake by 18.3% in the second quarter, purchasing 63,087 shares and bringing its holdings to 408,740 shares valued at approximately $9.64 million.
• SMFG shares opened at $25.52, down 1.3%, while the company reported quarterly revenue of $8.71 billion, earnings per share of $0.49, a 16.24% net margin, and a 10.65% return on equity.
• Analyst sentiment remains moderately positive, with one Buy and one Hold rating; meanwhile, CFO Kazuyuki Anchi sold 4,000 shares at an average price of $42.47, reducing his ownership by 7.57%.

QRG Capital Management Inc. raised its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 18.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 408,740 shares of the bank's stock after purchasing an additional 63,087 shares during the quarter. QRG Capital Management Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $9,638,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SMFG. Modern Wealth Management LLC boosted its stake in Sumitomo Mitsui Financial Group by 3.1% in the 1st quarter. Modern Wealth Management LLC now owns 16,042 shares of the bank's stock valued at $332,000 after buying an additional 482 shares in the last quarter. Traveka Wealth LLC increased its position in shares of Sumitomo Mitsui Financial Group by 2.3% during the 1st quarter. Traveka Wealth LLC now owns 26,726 shares of the bank's stock worth $528,000 after purchasing an additional 613 shares in the last quarter. Bridgewater Advisors Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 2.5% during the 1st quarter. Bridgewater Advisors Inc. now owns 25,274 shares of the bank's stock worth $499,000 after purchasing an additional 618 shares in the last quarter. Anchyra Partners LLC increased its position in shares of Sumitomo Mitsui Financial Group by 4.5% during the 1st quarter. Anchyra Partners LLC now owns 14,329 shares of the bank's stock worth $283,000 after purchasing an additional 620 shares in the last quarter. Finally, Greenspring Advisors LLC lifted its holdings in Sumitomo Mitsui Financial Group by 3.8% during the 2nd quarter. Greenspring Advisors LLC now owns 17,783 shares of the bank's stock valued at $419,000 after purchasing an additional 656 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors.

Insider Activity at Sumitomo Mitsui Financial Group

In related news, CFO Kazuyuki Anchi sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $42.47, for a total value of $169,880.00. Following the completion of the sale, the chief financial officer owned 48,857 shares of the company's stock, valued at $2,074,956.79. This trade represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.05% of the stock is owned by company insiders.

Sumitomo Mitsui Financial Group Stock Down 1.3%

Shares of NYSE:SMFG opened at $25.52 on Friday. Sumitomo Mitsui Financial Group Inc has a 12 month low of $15.18 and a 12 month high of $27.61. The company's 50-day moving average price is $25.94 and its two-hundred day moving average price is $23.51. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.65. The firm has a market cap of $161.64 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.03 and a beta of 0.42.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Zacks Research lowered shares of Sumitomo Mitsui Financial Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Weiss Ratings raised shares of Sumitomo Mitsui Financial Group from a "hold (c+)" rating to a "buy (b+)" rating in a report on Wednesday, September 2nd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Sumitomo Mitsui Financial Group Profile

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Japanese financial services holding company and the parent organization of Sumitomo Mitsui Banking Corporation (SMBC). The group provides a broad range of financial products and services to individuals, businesses, institutional clients and public-sector organizations.

Its principal activities include commercial and investment banking, retail banking, corporate lending, deposits, payments, foreign exchange and trade finance. Through affiliated companies, SMFG also offers securities brokerage and underwriting, asset management, leasing, credit cards, consumer finance and other specialized financial services.

SMFG traces its heritage to the historical Sumitomo and Mitsui banking businesses.

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