Sumitomo Mitsui Financial Group (NYSE:SMFG) Upgraded at StockNews.com

Sumitomo Mitsui Financial Group (NYSE:SMFG) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE:SMFG opened at $14.28 on Friday. The company has a 50 day moving average of $13.06 and a 200 day moving average of $13.03. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.91. Sumitomo Mitsui Financial Group has a 12 month low of $9.16 and a 12 month high of $14.53. The stock has a market cap of $93.37 billion, a P/E ratio of 12.31, a P/E/G ratio of 3.22 and a beta of 0.59.

Insider Activity

In related news, Director Mitsui Financial Grou Sumitomo acquired 9,247,081 shares of the stock in a transaction dated Thursday, September 19th. The shares were purchased at an average price of $59.67 per share, for a total transaction of $551,773,323.27. Following the transaction, the director now owns 9,247,081 shares in the company, valued at $551,773,323.27. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMFG. Healthcare of Ontario Pension Plan Trust Fund raised its position in 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 purchasing an additional 447,800 shares in the last quarter. Benson Investment Management Company Inc. purchased a new position in shares of Sumitomo Mitsui Financial Group during the 3rd quarter valued at about $5,182,000. FMR LLC lifted its position 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 buying an additional 342,604 shares during the last quarter. Leuthold Group LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group in the 3rd quarter valued at $3,907,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Sumitomo Mitsui Financial Group by 844.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 326,942 shares of the bank’s stock valued at $4,129,000 after buying an additional 292,334 shares during the period. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

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.