Conning Inc. reduced its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 38.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,825 shares of the bank’s stock after selling 15,800 shares during the period. Conning Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $203,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC bought a new position in Sumitomo Mitsui Financial Group during the second quarter worth $105,000. Park National Corp OH bought a new position in Sumitomo Mitsui Financial Group during the second quarter worth $107,000. Atria Investments LLC raised its position in Sumitomo Mitsui Financial Group by 84.1% in the second quarter. Atria Investments LLC now owns 18,713 shares of the bank’s stock worth $147,000 after buying an additional 8,549 shares during the period. Advisor Partners LLC raised its position in Sumitomo Mitsui Financial Group by 81.3% in the second quarter. Advisor Partners LLC now owns 19,355 shares of the bank’s stock worth $152,000 after buying an additional 8,679 shares during the period. Finally, Hartford Investment Management Co. bought a new position in Sumitomo Mitsui Financial Group during the second quarter worth $154,000. 2.19% of the stock is currently owned by hedge funds and other institutional investors.
Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) opened at 7.47 on Wednesday. Sumitomo Mitsui Financial Group Inc has a 52 week low of $6.39 and a 52 week high of $8.30. The firm has a market cap of $52.67 billion, a price-to-earnings ratio of 8.29 and a beta of 1.30. The stock has a 50 day moving average price of $7.67 and a 200 day moving average price of $7.58.
Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its earnings results on Monday, July 31st. The bank reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.11. Sumitomo Mitsui Financial Group had a net margin of 14.43% and a return on equity of 6.95%. The company had revenue of $12.25 billion for the quarter. Equities research analysts expect that Sumitomo Mitsui Financial Group Inc will post $0.87 EPS for the current year.
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A number of research firms have weighed in on SMFG. BidaskClub lowered Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. UBS AG raised Sumitomo Mitsui Financial Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, ValuEngine lowered Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Sumitomo Mitsui Financial Group presently has a consensus rating of “Buy”.
Sumitomo Mitsui Financial Group Company Profile
Sumitomo Mitsui Financial Group, Inc is a holding company for Sumitomo Mitsui Banking Corporation (the Bank) and its subsidiaries. The Company operates through four segments: Commercial Banking, Leasing, Securities and Consumer Finance. The Company and its subsidiaries offer a range of financial services, including commercial banking, leasing, securities, consumer finance and other services.
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