QRG Capital Management Inc. Decreases Stake in Sumitomo Mitsui Financial Group Inc $SMFG

QRG Capital Management Inc. decreased its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 37.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 265,369 shares of the bank’s stock after selling 158,667 shares during the quarter. QRG Capital Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $4,442,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC purchased a new position in shares of Sumitomo Mitsui Financial Group in the 3rd quarter valued at $27,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Sumitomo Mitsui Financial Group by 163.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock valued at $30,000 after buying an additional 1,227 shares during the period. NewSquare Capital LLC lifted its position in Sumitomo Mitsui Financial Group by 204.7% during the 2nd quarter. NewSquare Capital LLC now owns 2,029 shares of the bank’s stock worth $31,000 after acquiring an additional 1,363 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in Sumitomo Mitsui Financial Group by 2,443.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 2,035 shares of the bank’s stock worth $34,000 after acquiring an additional 1,955 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Sumitomo Mitsui Financial Group in the second quarter valued at approximately $34,000. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Trading Down 0.2%

SMFG opened at $21.32 on Monday. Sumitomo Mitsui Financial Group Inc has a 12-month low of $11.83 and a 12-month high of $21.54. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.04 and a quick ratio of 1.03. The stock has a market capitalization of $136.69 billion, a PE ratio of 18.07, a P/E/G ratio of 1.12 and a beta of 0.36. The firm’s fifty day moving average price is $18.79 and its 200 day moving average price is $17.02.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings data on Friday, November 14th. The bank reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.19. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $7.41 billion. Sumitomo Mitsui Financial Group had a net margin of 13.80% and a return on equity of 9.14%. As a group, research analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SMFG. Weiss Ratings reissued a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Monday, December 29th. Zacks Research downgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Sumitomo Mitsui Financial Group currently has an average rating of “Hold”.

Sumitomo Mitsui Financial Group Profile

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.