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

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

Sumitomo Mitsui Financial Group Trading Down 2.3 %

Sumitomo Mitsui Financial Group stock opened at $13.96 on Friday. Sumitomo Mitsui Financial Group has a 52 week low of $9.16 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 firm has a market capitalization of $91.31 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 3.14 and a beta of 0.59. The company has a 50 day moving average price of $12.92 and a 200 day moving average price of $12.94.

Insider Transactions at Sumitomo Mitsui Financial Group

In related news, Director Mitsui Financial Grou Sumitomo acquired 9,247,081 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average cost of $59.67 per share, with a total value of $551,773,323.27. Following the completion of the transaction, the director now owns 9,247,081 shares of the company’s stock, valued at approximately $551,773,323.27. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

A number of institutional investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund raised 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 worth $8,258,000 after acquiring an additional 447,800 shares in the last quarter. Benson Investment Management Company Inc. purchased a new stake in shares of Sumitomo Mitsui Financial Group during the 3rd quarter worth about $5,182,000. FMR LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 5.0% during the 3rd quarter. FMR LLC now owns 7,193,840 shares of the bank’s stock valued at $90,858,000 after buying an additional 342,604 shares during the last quarter. Leuthold Group LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the 3rd quarter valued at approximately $3,907,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Sumitomo Mitsui Financial Group by 844.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 326,942 shares of the bank’s stock worth $4,129,000 after buying an additional 292,334 shares during the last quarter. Institutional investors and hedge funds 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.