Assetmark Inc. Has $2.90 Million Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Assetmark Inc. increased its stake in Sumitomo Mitsui Financial Group by 47.8% in Q4, now holding 150,140 shares worth about $2.90 million.
• SMFG missed quarterly expectations, reporting $0.16 EPS versus analysts' $0.40 estimate and revenue of $7.27 billion versus $7.93 billion expected.
• Shares trade around $21.65 with a market cap of roughly $138.1 billion and a P/E of 18.04, and analysts' consensus rating is Moderate Buy.

Assetmark Inc. grew its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 47.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 150,140 shares of the bank's stock after purchasing an additional 48,569 shares during the period. Assetmark Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $2,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SMFG. AQR Capital Management LLC boosted its holdings in Sumitomo Mitsui Financial Group by 26.0% in the first quarter. AQR Capital Management LLC now owns 177,249 shares of the bank's stock worth $2,740,000 after acquiring an additional 36,522 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Sumitomo Mitsui Financial Group by 40.5% during the first quarter. Focus Partners Wealth now owns 18,253 shares of the bank's stock valued at $282,000 after acquiring an additional 5,258 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 41.6% during the first quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank's stock worth $49,000 after purchasing an additional 930 shares during the period. Acadian Asset Management LLC raised its position in shares of Sumitomo Mitsui Financial Group by 336.4% during the first quarter. Acadian Asset Management LLC now owns 39,574 shares of the bank's stock worth $610,000 after purchasing an additional 30,506 shares during the period. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 43.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 32,398 shares of the bank's stock worth $490,000 after purchasing an additional 9,876 shares in the last quarter. Institutional investors own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Stock Down 0.1%

Shares of NYSE:SMFG opened at $21.65 on Monday. The business's 50 day moving average is $21.16 and its 200 day moving average is $19.37. Sumitomo Mitsui Financial Group Inc has a 12-month low of $13.18 and a 12-month high of $24.33. The stock has a market cap of $138.08 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 0.75 and a beta of 0.40.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its quarterly earnings results on Friday, January 30th. The bank reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. The company had revenue of $7.27 billion during the quarter, compared to analysts' expectations of $7.93 billion. As a group, equities research analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SMFG. Weiss Ratings reissued a "hold (c+)" rating on shares of Sumitomo Mitsui Financial Group in a research report on Monday, December 29th. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Finally, Zacks Research upgraded shares of Sumitomo Mitsui Financial Group from a "strong sell" rating to a "hold" rating in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy".

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG's core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group's product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.

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