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

Envestnet Asset Management Inc. lifted its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 6.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,923,502 shares of the bank's stock after acquiring an additional 119,818 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $29,737,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of Sumitomo Mitsui Financial Group by 18.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 482,783 shares of the bank's stock valued at $6,996,000 after purchasing an additional 76,862 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Sumitomo Mitsui Financial Group in the 4th quarter valued at approximately $1,585,000. HighTower Advisors LLC grew its position in Sumitomo Mitsui Financial Group by 4.6% in the 4th quarter. HighTower Advisors LLC now owns 257,959 shares of the bank's stock valued at $3,738,000 after acquiring an additional 11,363 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 608.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 16,318 shares of the bank's stock valued at $236,000 after purchasing an additional 14,016 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of Sumitomo Mitsui Financial Group by 7.5% in the fourth quarter. Farther Finance Advisors LLC now owns 10,946 shares of the bank's stock valued at $159,000 after purchasing an additional 763 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Sumitomo Mitsui Financial Group Stock Performance

NYSE SMFG opened at $14.86 on Tuesday. 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 Inc has a 12-month low of $10.74 and a 12-month high of $16.74. The stock has a market capitalization of $95.91 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 0.65 and a beta of 0.39. The business's 50 day moving average is $14.92 and its two-hundred day moving average is $14.77.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The bank reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The company had revenue of $16.55 billion for the quarter. Sumitomo Mitsui Financial Group had a net margin of 11.57% and a return on equity of 7.74%. Research analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Sumitomo Mitsui Financial Group Company 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.

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