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

Sumitomo Mitsui Financial Group (NYSE:SMFG) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Sumitomo Mitsui Financial Group Trading Down 2.2 %

Shares of NYSE:SMFG traded down $0.31 on Friday, hitting $13.98. The company had a trading volume of 917,792 shares, compared to its average volume of 1,236,091. Sumitomo Mitsui Financial Group has a 1 year low of $9.16 and a 1 year high of $14.53. 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 firm’s 50-day simple moving average is $12.90 and its two-hundred day simple moving average is $12.92. The firm has a market capitalization of $91.41 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 3.14 and a beta of 0.59.

Insiders Place Their Bets

In other Sumitomo Mitsui Financial Group news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was bought at an average cost of $59.67 per share, for a total transaction of $551,773,323.27. Following the purchase, the director now directly owns 9,247,081 shares in the company, valued at $551,773,323.27. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SMFG. FMR LLC boosted its stake in Sumitomo Mitsui Financial Group by 5.0% in the 3rd quarter. FMR LLC now owns 7,193,840 shares of the bank’s stock worth $90,858,000 after purchasing an additional 342,604 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Sumitomo Mitsui Financial Group by 5.4% in the second quarter. American Century Companies Inc. now owns 1,344,869 shares of the bank’s stock worth $18,035,000 after buying an additional 69,145 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Sumitomo Mitsui Financial Group by 266.5% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,800 shares of the bank’s stock valued at $8,258,000 after buying an additional 447,800 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Sumitomo Mitsui Financial Group by 7.2% during the second quarter. Natixis Advisors LLC now owns 588,690 shares of the bank’s stock valued at $7,894,000 after buying an additional 39,412 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Sumitomo Mitsui Financial Group by 23.5% during the third quarter. Quantinno Capital Management LP now owns 546,173 shares of the bank’s stock valued at $6,898,000 after acquiring an additional 103,810 shares in the last quarter. Hedge funds and other institutional investors 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.