Sumitomo Mitsui Financial Group (NYSE:SMFG) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Sumitomo Mitsui Financial Group (NYSE:SMFG) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Sumitomo Mitsui Financial Group Stock Performance

Shares of SMFG stock opened at $14.27 on Friday. Sumitomo Mitsui Financial Group has a 12 month low of $9.16 and a 12 month high of $14.53. The stock has a market cap of $93.34 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 3.18 and a beta of 0.59. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.91. The company’s fifty day moving average price is $13.06 and its 200-day moving average price is $13.04.

Insider Activity

In related news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of the stock in a transaction dated Thursday, September 19th. The stock was purchased at an average price of $59.67 per share, with a total value of $551,773,323.27. Following the transaction, the director now directly owns 9,247,081 shares in the company, valued at $551,773,323.27. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Large investors have recently modified their holdings of the stock. Addison Advisors LLC purchased a new position in Sumitomo Mitsui Financial Group in the 2nd quarter worth about $25,000. Rothschild Investment LLC purchased a new position in Sumitomo Mitsui Financial Group in the 2nd quarter worth about $45,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group during the 2nd quarter valued at about $59,000. Assetmark Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 23.6% during the 3rd quarter. Assetmark Inc. now owns 8,738 shares of the bank’s stock valued at $110,000 after purchasing an additional 1,669 shares during the last quarter. Finally, AXA S.A. increased its position in shares of Sumitomo Mitsui Financial Group by 29.2% during the 2nd quarter. AXA S.A. now owns 9,200 shares of the bank’s stock valued at $123,000 after purchasing an additional 2,081 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

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.