Sumitomo Mitsui Financial Group (NYSE:SMFG) Rating Lowered 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 research report sent to investors on Friday.

Sumitomo Mitsui Financial Group Stock Down 0.3 %

Shares of SMFG stock opened at $13.92 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.92. The stock has a market cap of $91.05 billion, a P/E ratio of 12.00, a PEG ratio of 3.16 and a beta of 0.59. Sumitomo Mitsui Financial Group has a 52 week low of $9.16 and a 52 week high of $14.53. The company’s fifty day simple moving average is $12.95 and its two-hundred day simple moving average is $12.98.

Insider Activity

In related news, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was purchased at an average price of $59.67 per share, for a total transaction of $551,773,323.27. Following the acquisition, the director now 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SMFG. Addison Advisors LLC bought a new stake in Sumitomo Mitsui Financial Group in the second quarter worth about $25,000. Rothschild Investment LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the 2nd quarter worth $45,000. Ashton Thomas Private Wealth LLC purchased a new position in Sumitomo Mitsui Financial Group during the 2nd quarter valued at about $59,000. Assetmark Inc. increased its holdings in Sumitomo Mitsui Financial Group by 23.6% during the third quarter. Assetmark Inc. now owns 8,738 shares of the bank’s stock valued at $110,000 after buying an additional 1,669 shares during the period. Finally, AXA S.A. raised its position in shares of Sumitomo Mitsui Financial Group by 29.2% in the 2nd quarter. AXA S.A. now owns 9,200 shares of the bank’s stock worth $123,000 after acquiring an additional 2,081 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

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.