Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 6.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,923,502 shares of the bank's stock after purchasing an additional 119,818 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $29,737,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new position in Sumitomo Mitsui Financial Group in the fourth quarter worth about $25,000. Bessemer Group Inc. increased its holdings in shares of Sumitomo Mitsui Financial Group by 138.1% during the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock valued at $28,000 after acquiring an additional 1,119 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Sumitomo Mitsui Financial Group by 1,044.1% during the first quarter. Private Trust Co. NA now owns 2,334 shares of the bank's stock valued at $36,000 after acquiring an additional 2,130 shares in the last quarter. Park Square Financial Group LLC acquired a new position in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at about $34,000. Finally, Financial Management Professionals Inc. increased its holdings in shares of Sumitomo Mitsui Financial Group by 88.3% during the first quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank's stock valued at $37,000 after acquiring an additional 1,127 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Stock Performance

NYSE SMFG traded down $0.21 during trading hours on Friday, reaching $14.57. The stock had a trading volume of 1,120,172 shares, compared to its average volume of 1,602,082. The stock has a fifty day moving average of $14.97 and a 200 day moving average of $14.77. The stock has a market cap of $94.04 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 0.64 and a beta of 0.39. Sumitomo Mitsui Financial Group Inc has a 52-week low of $10.74 and a 52-week high of $16.74. 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 (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 firm 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%. Sell-side analysts predict 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 have recently issued reports on SMFG. Wall Street Zen downgraded shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Nomura Securities upgraded shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a report on Thursday, July 3rd.

Sumitomo Mitsui Financial Group Profile

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.