Massachusetts Financial Services Co. MA Increases Stock Position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Massachusetts Financial Services Co. MA raised its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 103.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 282,363 shares of the bank's stock after purchasing an additional 143,683 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Sumitomo Mitsui Financial Group were worth $4,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SMFG. FMR LLC raised its position in shares of Sumitomo Mitsui Financial Group by 16.5% during the 4th quarter. FMR LLC now owns 8,383,293 shares of the bank's stock worth $121,474,000 after purchasing an additional 1,189,453 shares during the last quarter. Clark Capital Management Group Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 26.9% during the 4th quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank's stock worth $92,509,000 after purchasing an additional 1,355,287 shares during the last quarter. Northern Trust Corp raised its position in shares of Sumitomo Mitsui Financial Group by 79.3% during the 4th quarter. Northern Trust Corp now owns 5,029,497 shares of the bank's stock worth $72,877,000 after purchasing an additional 2,224,913 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Sumitomo Mitsui Financial Group by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,899,574 shares of the bank's stock worth $42,015,000 after purchasing an additional 33,783 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 6.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,923,502 shares of the bank's stock worth $29,737,000 after purchasing an additional 119,818 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on SMFG shares. Wall Street Zen cut shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Nomura Securities upgraded Sumitomo Mitsui Financial Group to a "strong-buy" rating in a report on Thursday, July 3rd.

Sumitomo Mitsui Financial Group Stock Performance

Shares of SMFG stock opened at $14.54 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.05 and a current ratio of 1.05. Sumitomo Mitsui Financial Group Inc has a one year low of $10.74 and a one year high of $16.74. The company's 50-day simple moving average is $14.97 and its 200-day simple moving average is $14.77. The stock has a market capitalization of $93.87 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.64 and a beta of 0.39.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued 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). The company had revenue of $16.55 billion during the quarter. Sumitomo Mitsui Financial Group had a net margin of 11.57% and a return on equity of 7.74%. Equities analysts anticipate 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.

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