Ascent Group LLC Purchases Shares of 15,205 Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Ascent Group LLC has acquired a new stake in Sumitomo Mitsui Financial Group Inc, purchasing 15,205 shares valued at approximately $235,000.
• Several hedge funds have recently increased their positions in Sumitomo Mitsui Financial Group, with Lindbrook Capital LLC raising its stake by 3.8% and D Orazio & Associates Inc. raising it by 8.5%.
• Analysts' consensus rating for Sumitomo Mitsui Financial Group is classified as a "Strong Buy", reflecting positive sentiment towards the stock's performance.

Ascent Group LLC bought a new position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,205 shares of the bank's stock, valued at approximately $235,000.

Several other institutional investors and hedge funds have also modified their holdings of SMFG. Goldman Sachs Group Inc. lifted its holdings in Sumitomo Mitsui Financial Group by 0.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,271,361 shares of the bank's stock worth $174,255,000 after buying an additional 53,612 shares in the last quarter. Clark Capital Management Group Inc. lifted its holdings in Sumitomo Mitsui Financial Group by 1.8% during the 1st quarter. Clark Capital Management Group Inc. now owns 6,496,260 shares of the bank's stock worth $100,432,000 after buying an additional 111,952 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Sumitomo Mitsui Financial Group by 26.0% during the 1st quarter. AQR Capital Management LLC now owns 177,249 shares of the bank's stock worth $2,740,000 after buying an additional 36,522 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Sumitomo Mitsui Financial Group by 4.2% during the 1st quarter. Advisors Asset Management Inc. now owns 67,234 shares of the bank's stock worth $1,039,000 after buying an additional 2,699 shares in the last quarter. Finally, Aprio Wealth Management LLC lifted its holdings in Sumitomo Mitsui Financial Group by 45.2% during the 1st quarter. Aprio Wealth Management LLC now owns 20,697 shares of the bank's stock worth $320,000 after buying an additional 6,441 shares in the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wall Street Zen raised Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Zacks Research upgraded shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Finally, Nomura Securities upgraded shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research report on Thursday, July 3rd. Two analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Strong Buy".

Sumitomo Mitsui Financial Group Trading Up 0.6%

Shares of SMFG traded up $0.10 during trading hours on Thursday, reaching $16.71. The stock had a trading volume of 756,042 shares, compared to its average volume of 1,897,645. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.75. Sumitomo Mitsui Financial Group Inc has a 52 week low of $11.83 and a 52 week high of $17.46. The firm has a 50-day moving average of $15.99 and a 200 day moving average of $15.15. The company has a market cap of $107.40 billion, a P/E ratio of 17.59, a P/E/G ratio of 0.80 and a beta of 0.39.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The bank reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. The business had revenue of $16.41 billion during the quarter, compared to analysts' expectations 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 fiscal year.

About Sumitomo Mitsui Financial Group

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.