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

StockNews.com cut shares of Sumitomo Mitsui Financial Group (NYSE:SMFG) from a hold rating to a sell rating in a report issued on Friday morning.

Sumitomo Mitsui Financial Group Stock Performance

Shares of NYSE SMFG traded down $0.33 during trading hours on Friday, hitting $13.96. 917,803 shares of the stock were exchanged, compared to its average volume of 1,236,091. Sumitomo Mitsui Financial Group has a one year low of $9.16 and a one year high of $14.53. The company’s 50 day moving average is $12.92 and its 200 day moving average is $12.94. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $91.31 billion, a P/E ratio of 12.82, a P/E/G ratio of 3.14 and a beta of 0.59.

Insider Activity at Sumitomo Mitsui Financial Group

In related news, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of Sumitomo Mitsui Financial Group stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average price of $59.67 per share, for a total transaction of $551,773,323.27. Following the completion of the purchase, the director now owns 9,247,081 shares in the company, valued at approximately $551,773,323.27. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Several large investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Sumitomo Mitsui Financial Group by 5.0% in the third quarter. FMR LLC now owns 7,193,840 shares of the bank’s stock valued at $90,858,000 after purchasing an additional 342,604 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Sumitomo Mitsui Financial Group by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 1,344,869 shares of the bank’s stock valued at $18,035,000 after acquiring an additional 69,145 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Sumitomo Mitsui Financial Group by 266.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,800 shares of the bank’s stock valued at $8,258,000 after acquiring an additional 447,800 shares in the last quarter. Natixis Advisors LLC increased its stake in Sumitomo Mitsui Financial Group by 7.2% in the second quarter. Natixis Advisors LLC now owns 588,690 shares of the bank’s stock valued at $7,894,000 after acquiring an additional 39,412 shares during the period. Finally, Quantinno Capital Management LP raised its position in Sumitomo Mitsui Financial Group by 23.5% in the third quarter. Quantinno Capital Management LP now owns 546,173 shares of the bank’s stock worth $6,898,000 after purchasing an additional 103,810 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

About Sumitomo Mitsui Financial Group

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.