Invesco Ltd. Reduces Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Invesco Ltd. has reduced its stake in Sumitomo Mitsui Financial Group Inc by 9.4%, selling 95,646 shares during the first quarter, leaving them with 918,290 shares valued at approximately $14.2 million.
• Other hedge funds, including Clark Capital Management Group and Northern Trust Corp, significantly increased their holdings in the same period, indicating a varying trend in institutional investments.
• Sumitomo Mitsui Financial Group's recent quarterly earnings exceeded analysts' expectations, reporting an EPS of $0.40 against an anticipated $0.31, with a total revenue of $16.41 billion for the quarter.

Invesco Ltd. trimmed its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 9.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 918,290 shares of the bank's stock after selling 95,646 shares during the quarter. Invesco Ltd.'s holdings in Sumitomo Mitsui Financial Group were worth $14,197,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SMFG. Northern Trust Corp boosted its holdings in Sumitomo Mitsui Financial Group by 79.3% in the 4th quarter. Northern Trust Corp now owns 5,029,497 shares of the bank's stock valued at $72,877,000 after purchasing an additional 2,224,913 shares during the last quarter. Clark Capital Management Group Inc. boosted its holdings in Sumitomo Mitsui Financial Group by 26.9% in the 4th quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank's stock valued at $92,509,000 after purchasing an additional 1,355,287 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Sumitomo Mitsui Financial Group by 59.8% in the 1st quarter. Natixis Advisors LLC now owns 1,439,197 shares of the bank's stock valued at $22,250,000 after purchasing an additional 538,823 shares during the last quarter. First Trust Advisors LP acquired a new position in Sumitomo Mitsui Financial Group in the 4th quarter valued at about $4,484,000. Finally, Silvercrest Asset Management Group LLC acquired a new position in Sumitomo Mitsui Financial Group in the 4th quarter valued at about $3,511,000. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SMFG has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Nomura Securities raised shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research note on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Sumitomo Mitsui Financial Group has a consensus rating of "Strong Buy".

Sumitomo Mitsui Financial Group Stock Down 0.0%

SMFG traded down $0.01 during trading hours on Thursday, hitting $16.51. 3,037,082 shares of the company's stock were exchanged, compared to its average volume of 1,868,615. Sumitomo Mitsui Financial Group Inc has a 12-month low of $11.83 and a 12-month high of $17.46. The firm has a 50 day moving average of $15.53 and a 200 day moving average of $15.01. The firm has a market cap of $106.87 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 0.74 and a beta of 0.41. 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 (NYSE:SMFG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The bank reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. The company had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $1,094.67 billion. Analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal 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.