Ethic Inc. Boosts Holdings in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Ethic Inc. grew its stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 159.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 151,602 shares of the bank’s stock after purchasing an additional 93,142 shares during the period. Ethic Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $1,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SMFG. BlackRock Inc. raised its stake in Sumitomo Mitsui Financial Group by 570,736.3% in the 1st quarter. BlackRock Inc. now owns 7,940,333 shares of the bank’s stock valued at $57,567,000 after purchasing an additional 7,938,942 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Sumitomo Mitsui Financial Group in the 2nd quarter worth approximately $7,124,000. Lazard Asset Management LLC boosted its holdings in Sumitomo Mitsui Financial Group by 5.7% in the 1st quarter. Lazard Asset Management LLC now owns 13,141,803 shares of the bank’s stock worth $95,278,000 after acquiring an additional 711,596 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in Sumitomo Mitsui Financial Group by 125.2% in the 1st quarter. D. E. Shaw & Co. Inc. now owns 1,123,474 shares of the bank’s stock worth $8,145,000 after acquiring an additional 624,528 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Sumitomo Mitsui Financial Group by 8.4% during the 1st quarter. Morgan Stanley now owns 7,741,623 shares of the bank’s stock valued at $56,127,000 after buying an additional 598,570 shares during the last quarter. Institutional investors own 1.83% of the company’s stock.

Separately, Zacks Investment Research raised Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 16th.

Shares of SMFG stock opened at $7.27 on Wednesday. The stock has a 50-day simple moving average of $6.90 and a 200 day simple moving average of $7.11. Sumitomo Mitsui Financial Group, Inc. has a fifty-two week low of $5.40 and a fifty-two week high of $7.95. The stock has a market capitalization of $49.96 billion, a P/E ratio of 8.45 and a beta of 0.97. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.43.

Sumitomo Mitsui Financial Group Profile

Sumitomo Mitsui Financial Group, Inc operates as a holding company, which engages in the management of its subsidiaries that provide financial services. It operates through the following segments: Commercial Banking, Leasing, Securities, and Consumer Finance. The Commercial Banking segment consists of consumer banking, middle market banking, wholesale banking, retail banking, international banking, and treasury units.

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Institutional Ownership by Quarter for Sumitomo Mitsui Financial Group (NYSE:SMFG)

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