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

StockNews.com cut shares of Sumitomo Mitsui Financial Group (NYSE:SMFG) from a hold rating to a sell rating in a research note published on Friday morning.

Sumitomo Mitsui Financial Group Stock Performance

NYSE SMFG opened at $13.96 on Friday. The business has a 50 day simple moving average of $12.92 and a two-hundred day simple moving average of $12.97. Sumitomo Mitsui Financial Group has a 1-year low of $9.16 and a 1-year high of $14.53. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $91.31 billion, a PE ratio of 12.03, a P/E/G ratio of 3.16 and a beta of 0.59.

Insider Buying and Selling at Sumitomo Mitsui Financial Group

In other news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of the stock in a transaction dated 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 purchase, the director now directly owns 9,247,081 shares of the company’s stock, valued at approximately $551,773,323.27. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.05% of the company’s stock.

Institutional Trading of Sumitomo Mitsui Financial Group

Hedge funds have recently made changes to their positions in the company. Addison Advisors LLC purchased a new position in Sumitomo Mitsui Financial Group in the second quarter worth approximately $25,000. Rothschild Investment LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group in the second quarter valued at $45,000. Ashton Thomas Private Wealth LLC acquired a new position in Sumitomo Mitsui Financial Group during the second quarter worth approximately $59,000. Assetmark Inc. raised its holdings in Sumitomo Mitsui Financial Group by 23.6% in the third quarter. Assetmark Inc. now owns 8,738 shares of the bank’s stock valued at $110,000 after buying an additional 1,669 shares during the period. Finally, Inspire Investing LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group in the first quarter valued at about $119,000. Hedge funds and other institutional investors own 3.85% of the company’s stock.

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.