Creative Planning Sells 75,782 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Creative Planning lessened its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 13.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,765 shares of the bank’s stock after selling 75,782 shares during the period. Creative Planning’s holdings in Sumitomo Mitsui Financial Group were worth $7,491,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Natixis Advisors LLC raised its holdings in 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 worth $22,250,000 after buying an additional 538,823 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 19.7% during the second quarter. Envestnet Asset Management Inc. now owns 2,302,411 shares of the bank’s stock worth $34,789,000 after acquiring an additional 378,909 shares in the last quarter. Allianz SE acquired a new stake in shares of Sumitomo Mitsui Financial Group during the first quarter worth $3,401,000. Myriad Asset Management US LP bought a new stake in Sumitomo Mitsui Financial Group in the 2nd quarter valued at $2,561,000. Finally, Northern Trust Corp boosted its stake in Sumitomo Mitsui Financial Group by 3.2% in the 1st quarter. Northern Trust Corp now owns 5,188,817 shares of the bank’s stock worth $80,219,000 after purchasing an additional 159,320 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Zacks Research downgraded Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Sumitomo Mitsui Financial Group presently has an average rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Trading Up 0.9%

Sumitomo Mitsui Financial Group stock opened at $17.02 on Thursday. The firm has a 50-day moving average of $16.41 and a 200-day moving average of $15.75. Sumitomo Mitsui Financial Group Inc has a one year low of $11.83 and a one year high of $17.58. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $109.39 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 0.78 and a beta of 0.36.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Friday, November 14th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.19. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%.The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $7.41 billion. On average, equities analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

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.