Pacer Advisors Inc. made a fresh purchase of shares in Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Rating) in the fourth quarter, according to a recent disclosure to the Securities and Exchange Commission (SEC). The fund purchased 52,024 bank stocks worth approximately $417,000.
Many other hedge funds and other institutional investors have also recently bought and sold shares in the business. Goldman Sachs Group Inc. raised his 16.2% stake in Sumitomo Mitsui Financial Group in the second quarter. Goldman Sachs Group Inc. now owns 9,482,362 bank shares worth $55,947,000 after purchasing an additional 1,324,493 shares during this period. Lazard Asset Management LLC raised its stake in Sumitomo Mitsui Financial Group by 0.8% in the first quarter. Lazard Asset Management LLC now owns 9,029,365 bank shares worth $56,614,000 after he purchased an additional 69,960 shares during this period. BlackRock Inc. raised a 6.4% stake in Sumitomo Mitsui Financial Group in the third quarter. BlackRock Inc. now owns 7,069,327 shares of bank stock valued at $38,881,000 after purchasing an additional 424,005 shares during this period. FMR LLC increased its stake in Sumitomo Mitsui Financial Group by 0.3% in the second quarter. FMR LLC now owns 4,473,511 bank shares worth $26,393,000 after purchasing an additional 11,265 shares during this period. Finally, Invesco Ltd. increased its stake in Sumitomo Mitsui Financial Group by 4,169.7% in the first quarter. Invesco Ltd. now owns 4,154,809 bank shares worth $26,051,000 after purchasing a further 4,057,499 shares during this period. 1.65% of the shares are owned by institutional investors and hedge funds.
Analyst sets new price target
Separately, StockNews.com began covering shares of Sumitomo Mitsui Financial Group in a research note on Thursday, March 16. They issued a “pending” rating to the company.
Price performance of Sumitomo Mitsui Financial Group
SMFG shares opened at $7.84 on Friday. His one-year low for Sumitomo Mitsui Financial Group is $5.39 and his one-year high is $9.18. The company has a 50-day moving average price of $8.24 and a 200-day moving average price of $7.69. The company has a market cap of $53.89 billion, a price/earnings ratio of 8.52, a PEG ratio of 1.40 and a beta of 0.67.
Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Rating) last reported quarterly results on Monday, Jan. 30. The bank reported earnings per share (EPS) of $0.25 for the quarter, beating consensus expectations of $0.20 by $0.05. The company’s quarterly revenue was $10.38 billion. Sumitomo Mitsui Financial Group posted a net profit margin of 15.18% and a return on equity of 7.45%. As a group, analysts expect Sumitomo Mitsui Financial Group to post 0.86 EPS for the current financial year.
Overview of Sumitomo Mitsui Financial Group
Sumitomo Mitsui Financial Group, Inc. operates as a holding company that manages subsidiaries that provide financial services. It operates in commercial banking, leasing, securities and consumer finance segments. The Commercial Banking segment consists of Consumer Banking, Middle Market Banking, Wholesale Banking, Retail Banking, International Banking and Treasury.
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