Anderson Hoagland & Co. Sells 115,469 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Anderson Hoagland & Co. reduced its SMFG stake by 16.1% in the third quarter, selling 115,469 shares and retaining 601,549 shares valued at approximately $14.5 million.
• Other institutional investors mostly increased their positions, but overall institutional and hedge-fund ownership remains relatively low at 3.85%; corporate insiders own just 0.05% of the stock.
• Analyst sentiment is mixed, with one Buy and one Sell rating producing a consensus “Hold” recommendation. SMFG shares opened at $23.82, compared with a 12-month range of $15.85 to $27.61.

Anderson Hoagland & Co. lessened its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 16.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 601,549 shares of the bank's stock after selling 115,469 shares during the quarter. Sumitomo Mitsui Financial Group makes up about 1.1% of Anderson Hoagland & Co.'s portfolio, making the stock its 29th biggest holding. Anderson Hoagland & Co.'s holdings in Sumitomo Mitsui Financial Group were worth $14,491,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SMFG. Ferguson Wellman Capital Management Inc. acquired a new stake in Sumitomo Mitsui Financial Group in the 1st quarter valued at about $33,801,000. Bank of America Corp DE lifted its stake in Sumitomo Mitsui Financial Group by 20.9% in the 1st quarter. Bank of America Corp DE now owns 1,846,335 shares of the bank's stock worth $36,465,000 after purchasing an additional 319,140 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Sumitomo Mitsui Financial Group by 54.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 152,886 shares of the bank's stock worth $3,019,000 after purchasing an additional 53,655 shares in the last quarter. Calamos Advisors LLC acquired a new position in shares of Sumitomo Mitsui Financial Group during the 1st quarter worth approximately $3,659,000. Finally, XY Capital Ltd boosted its holdings in shares of Sumitomo Mitsui Financial Group by 46.4% during the 1st quarter. XY Capital Ltd now owns 175,608 shares of the bank's stock worth $3,468,000 after purchasing an additional 55,686 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

SMFG has been the subject of several analyst reports. Zacks Research cut shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 6th. Weiss Ratings upgraded shares of Sumitomo Mitsui Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, October 13th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE:SMFG opened at $23.82 on Friday. Sumitomo Mitsui Financial Group Inc has a 12 month low of $15.85 and a 12 month high of $27.61. The firm has a market capitalization of $150.87 billion, a P/E ratio of 16.54, a P/E/G ratio of 1.56 and a beta of 0.44. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.05 and a quick ratio of 1.05. The company's fifty day moving average price is $25.74 and its 200 day moving average price is $24.28.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The bank reported $0.49 earnings per share (EPS) for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.65% and a net margin of 16.24%. The company had revenue of $8.71 billion for the quarter. As a group, sell-side analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.94 earnings per share for the current fiscal year.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc NYSE: SMFG is a Japan-based financial services holding company and the parent organization of Sumitomo Mitsui Banking Corporation (SMBC). The group provides banking and related financial services to individuals, businesses, financial institutions and government entities.

Through its subsidiaries and affiliates, Sumitomo Mitsui Financial Group offers commercial and investment banking, corporate and consumer finance, leasing, securities brokerage, credit cards, asset management, payments and other financial services.

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