Cerity Partners LLC Grows Stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Cerity Partners LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 46.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 468,210 shares of the bank's stock after purchasing an additional 148,480 shares during the period. Cerity Partners LLC's holdings in Sumitomo Mitsui Financial Group were worth $7,239,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SMFG. Capital A Wealth Management LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth approximately $25,000. Bessemer Group Inc. grew its holdings 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 acquiring an additional 1,119 shares during the period. Private Trust Co. NA grew its holdings in shares of Sumitomo Mitsui Financial Group by 1,044.1% during the 1st quarter. Private Trust Co. NA now owns 2,334 shares of the bank's stock worth $36,000 after acquiring an additional 2,130 shares during the period. Park Square Financial Group LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth approximately $34,000. Finally, Financial Management Professionals Inc. grew its holdings in shares of Sumitomo Mitsui Financial Group by 88.3% during the 1st quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank's stock worth $37,000 after acquiring an additional 1,127 shares during the period. Hedge funds and other institutional investors own 3.85% of the company's stock.

Analysts Set New Price Targets

SMFG has been the topic of several recent research reports. Nomura Securities upgraded Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research note on Thursday, July 3rd. Wall Street Zen cut Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th.

Sumitomo Mitsui Financial Group Stock Performance

Sumitomo Mitsui Financial Group stock traded down $0.23 during trading on Friday, reaching $14.54. The company had a trading volume of 2,381,118 shares, compared to its average volume of 1,608,337. Sumitomo Mitsui Financial Group Inc has a 52 week low of $10.74 and a 52 week high of $16.74. The firm's 50-day simple moving average is $14.97 and its 200 day simple moving average is $14.77. The firm has a market capitalization of $93.87 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 0.65 and a beta of 0.39. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.64.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last announced its earnings results on Wednesday, May 21st. The bank reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Sumitomo Mitsui Financial Group had a return on equity of 7.74% and a net margin of 11.57%. The company had revenue of $16.55 billion during the quarter. Sell-side analysts forecast 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.