Allianz SE Buys New Position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Key Points

• Allianz SE acquired a new stake in Sumitomo Mitsui Financial Group Inc valued at approximately $3.40 million, purchasing 220,000 shares in the 1st quarter.
• Research firms have recently upgraded Sumitomo Mitsui Financial Group's ratings, with Wall Street Zen changing its rating from "sell" to "hold," and Nomura Securities upgrading it to "strong-buy."
• Sumitomo Mitsui Financial Group reported earnings of $0.40 per share, exceeding estimates by $0.09, and generated a revenue of $16.41 billion in its latest quarterly results.

Allianz SE purchased a new position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 220,000 shares of the bank's stock, valued at approximately $3,401,000.

Other institutional investors also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new stake in Sumitomo Mitsui Financial Group in the fourth quarter worth about $25,000. Bessemer Group Inc. lifted its position in shares of Sumitomo Mitsui Financial Group by 138.1% during the 4th quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock worth $28,000 after purchasing an additional 1,119 shares during the last quarter. Park Square Financial Group LLC bought a new position in Sumitomo Mitsui Financial Group during the fourth quarter valued at about $34,000. Private Trust Co. NA raised its position in Sumitomo Mitsui Financial Group by 1,044.1% in the first quarter. Private Trust Co. NA now owns 2,334 shares of the bank's stock worth $36,000 after purchasing an additional 2,130 shares in the last quarter. Finally, Financial Management Professionals Inc. grew its stake in Sumitomo Mitsui Financial Group by 88.3% during the first quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank's stock worth $37,000 after buying an additional 1,127 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Stock Performance

Shares of NYSE:SMFG traded up $0.12 during trading on Thursday, hitting $15.58. The company's stock had a trading volume of 965,474 shares, compared to its average volume of 1,867,586. Sumitomo Mitsui Financial Group Inc has a 12 month low of $11.83 and a 12 month high of $16.74. The company has a 50-day moving average of $15.13 and a 200-day moving average of $14.84. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $100.85 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 0.67 and a beta of 0.41.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The bank reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%. The company had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $1,094.67 billion. On average, sell-side analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Nomura Securities raised shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research report on Thursday, July 3rd.

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.