Envestnet Portfolio Solutions Inc. Cuts Stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Envestnet Portfolio Solutions Inc. lessened its holdings in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 10.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,238 shares of the bank’s stock after selling 2,157 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SMFG. Richardson Financial Services Inc. purchased a new position in shares of Sumitomo Mitsui Financial Group in the first quarter worth about $29,000. Principal Securities Inc. purchased a new stake in Sumitomo Mitsui Financial Group during the 4th quarter valued at about $34,000. Hexagon Capital Partners LLC increased its stake in Sumitomo Mitsui Financial Group by 25.2% in the 4th quarter. Hexagon Capital Partners LLC now owns 6,160 shares of the bank’s stock worth $60,000 after purchasing an additional 1,239 shares during the period. Global Retirement Partners LLC lifted its position in Sumitomo Mitsui Financial Group by 122.2% in the first quarter. Global Retirement Partners LLC now owns 6,338 shares of the bank’s stock valued at $75,000 after purchasing an additional 3,485 shares during the last quarter. Finally, D Orazio & Associates Inc. purchased a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at approximately $98,000. 3.85% of the stock is owned by institutional investors.

Sumitomo Mitsui Financial Group Stock Up 2.3 %

Shares of Sumitomo Mitsui Financial Group stock opened at $13.79 on Friday. The company’s 50 day moving average price is $13.31 and its 200-day moving average price is $12.24. Sumitomo Mitsui Financial Group, Inc. has a 52-week low of $8.85 and a 52-week high of $14.53. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $90.83 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.87 and a beta of 0.62.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings results on Friday, August 2nd. The bank reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. The business had revenue of $16.18 billion for the quarter. Sumitomo Mitsui Financial Group had a net margin of 11.28% and a return on equity of 8.13%. Equities research analysts forecast that Sumitomo Mitsui Financial Group, Inc. will post 1.13 EPS for the current year.

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.