Sumitomo Mitsui Financial Group (NYSE:SMFG) Rating Lowered to “Sell” at StockNews.com

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

Sumitomo Mitsui Financial Group Stock Down 2.3 %

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

Insider Activity

In related news, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 9,247,081 shares of the company’s stock, valued at approximately $551,773,323.27. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.05% of the company’s stock.

Institutional Trading of Sumitomo Mitsui Financial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Traveka Wealth LLC boosted its stake in Sumitomo Mitsui Financial Group by 3.2% during the second quarter. Traveka Wealth LLC now owns 27,506 shares of the bank’s stock valued at $369,000 after buying an additional 859 shares in the last quarter. Aprio Wealth Management LLC lifted its stake in Sumitomo Mitsui Financial Group by 7.9% during the third quarter. Aprio Wealth Management LLC now owns 11,795 shares of the bank’s stock valued at $149,000 after purchasing an additional 863 shares during the last quarter. Lake Street Advisors Group LLC grew its position in Sumitomo Mitsui Financial Group by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 54,183 shares of the bank’s stock worth $684,000 after buying an additional 933 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Sumitomo Mitsui Financial Group by 5.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 20,246 shares of the bank’s stock valued at $271,000 after buying an additional 963 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 2.3% during the 2nd quarter. Checchi Capital Advisers LLC now owns 44,580 shares of the bank’s stock valued at $598,000 after acquiring an additional 990 shares during the last quarter. 3.85% of the stock is currently owned by 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.