Naviter Wealth LLC Decreases Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Naviter Wealth LLC decreased its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 15.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 131,837 shares of the bank’s stock after selling 24,719 shares during the quarter. Naviter Wealth LLC’s holdings in Sumitomo Mitsui Financial Group were worth $2,548,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tudor Investment Corp ET AL increased its position in shares of Sumitomo Mitsui Financial Group by 112.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 927,179 shares of the bank’s stock valued at $15,521,000 after purchasing an additional 490,891 shares during the last quarter. Factory Mutual Insurance Co. purchased a new stake in shares of Sumitomo Mitsui Financial Group during the 3rd quarter valued at about $3,164,000. American Century Companies Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 16.9% during the 3rd quarter. American Century Companies Inc. now owns 2,036,709 shares of the bank’s stock valued at $34,095,000 after purchasing an additional 294,124 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 67.4% during the 3rd quarter. Federated Hermes Inc. now owns 424,283 shares of the bank’s stock valued at $7,102,000 after purchasing an additional 170,789 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 72.7% during the 3rd quarter. Assetmark Inc. now owns 101,571 shares of the bank’s stock valued at $1,700,000 after purchasing an additional 42,766 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Trading Up 0.2%

Shares of NYSE:SMFG opened at $20.47 on Wednesday. The stock has a 50 day moving average of $21.17 and a 200 day moving average of $19.11. The company has a market cap of $130.59 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 0.71 and a beta of 0.40. Sumitomo Mitsui Financial Group Inc has a 12-month low of $12.11 and a 12-month high of $24.33.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings data on Friday, January 30th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. The company had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $7.93 billion. Equities research analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on SMFG. Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “strong sell” rating to a “hold” rating in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.