Sumitomo Mitsui Financial Group Inc $SMFG Shares Sold by Anderson Hoagland & Co.

Key Points

• Anderson Hoagland & Co. reduced its stake in Sumitomo Mitsui Financial Group by 5.2%, owning 788,850 shares valued at approximately $11.92 million after selling 43,007 shares in Q2.
• Several institutional investors, including Natixis Advisors LLC, have increased their holdings in Sumitomo Mitsui Financial Group, with Natixis growing its stake by 59.8% in Q1.
• Sumitomo Mitsui Financial Group reported $0.40 earnings per share for the last quarter, exceeding the analysts' estimate of $0.31, and received upgraded ratings from multiple research firms, including a move to "strong-buy" by Nomura Securities.

Anderson Hoagland & Co. reduced its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 5.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 788,850 shares of the bank's stock after selling 43,007 shares during the period. Sumitomo Mitsui Financial Group makes up approximately 1.1% of Anderson Hoagland & Co.'s portfolio, making the stock its 24th biggest holding. Anderson Hoagland & Co.'s holdings in Sumitomo Mitsui Financial Group were worth $11,920,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of SMFG. Natixis Advisors LLC grew its position in shares of Sumitomo Mitsui Financial Group by 59.8% during the 1st quarter. Natixis Advisors LLC now owns 1,439,197 shares of the bank's stock valued at $22,250,000 after acquiring an additional 538,823 shares during the period. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group during the 4th quarter valued at about $3,508,000. Allianz SE acquired a new stake in shares of Sumitomo Mitsui Financial Group during the 1st quarter valued at about $3,401,000. Calamos Wealth Management LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group during the 1st quarter valued at about $2,706,000. Finally, Myriad Asset Management US LP acquired a new stake in shares of Sumitomo Mitsui Financial Group during the 2nd quarter valued at about $2,561,000. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Trading Up 0.6%

SMFG stock opened at $16.71 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.75. Sumitomo Mitsui Financial Group Inc has a 12-month low of $11.83 and a 12-month high of $17.46. The stock has a market cap of $107.43 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 0.81 and a beta of 0.39. The business's 50-day moving average is $16.03 and its 200 day moving average is $15.16.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The bank reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%.The company had revenue of $16.41 billion for the quarter, compared to analysts' expectations of $1,094.67 billion. On average, sell-side analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SMFG. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Nomura Securities upgraded Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research report on Thursday, July 3rd. Finally, Zacks Research raised shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock has an average rating of "Strong Buy".

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.

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