Massachusetts Financial Services Co. MA Grows Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Massachusetts Financial Services Co. MA increased its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 14.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 736,467 shares of the bank’s stock after purchasing an additional 93,024 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Sumitomo Mitsui Financial Group were worth $14,236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Venturi Wealth Management LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 101.2% during the fourth quarter. Venturi Wealth Management LLC now owns 30,790 shares of the bank’s stock valued at $595,000 after purchasing an additional 15,484 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 5.3% during the fourth quarter. Apollon Wealth Management LLC now owns 14,922 shares of the bank’s stock valued at $288,000 after purchasing an additional 749 shares during the last quarter. Intergy Private Wealth LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 5.4% during the fourth quarter. Intergy Private Wealth LLC now owns 12,800 shares of the bank’s stock valued at $247,000 after purchasing an additional 657 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at approximately $109,000. Finally, Personal CFO Solutions LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 7.1% during the fourth quarter. Personal CFO Solutions LLC now owns 18,554 shares of the bank’s stock valued at $359,000 after purchasing an additional 1,236 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Price Performance

SMFG opened at $21.38 on Friday. The company has a 50 day simple moving average of $21.19 and a two-hundred day simple moving average of $19.29. Sumitomo Mitsui Financial Group Inc has a 1-year low of $13.18 and a 1-year high of $24.33. The firm has a market cap of $136.35 billion, a P/E ratio of 17.81, a PEG ratio of 0.75 and a beta of 0.40.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its earnings results on Friday, January 30th. The bank reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a return on equity of 9.38% and a net margin of 13.81%.The company had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $7.93 billion. Equities analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

SMFG has been the subject of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Finally, Wall Street Zen cut shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.