Natixis Advisors LLC Cuts Stake in Sumitomo Mitsui Financial Group Inc $SMFG

Natixis Advisors LLC reduced its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 602,784 shares of the bank’s stock after selling 100,341 shares during the quarter. Natixis Advisors LLC’s holdings in Sumitomo Mitsui Financial Group were worth $11,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SMFG. PFS Partners LLC purchased a new stake in Sumitomo Mitsui Financial Group during the 4th quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in Sumitomo Mitsui Financial Group during the 3rd quarter valued at approximately $29,000. Sound Income Strategies LLC grew its holdings in Sumitomo Mitsui Financial Group by 76.8% during the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after buying an additional 610 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Sumitomo Mitsui Financial Group by 163.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock valued at $30,000 after buying an additional 1,227 shares in the last quarter. Finally, Park Square Financial Group LLC grew its holdings in Sumitomo Mitsui Financial Group by 58.0% during the 4th quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock valued at $31,000 after buying an additional 598 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Stock Performance

SMFG stock opened at $23.14 on Friday. The firm has a fifty day moving average price of $21.44 and a 200 day moving average price of $20.66. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $14.40 and a fifty-two week high of $24.33. The firm has a market cap of $147.63 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 0.63 and a beta of 0.43.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.57%. The firm had revenue of $7.31 billion during the quarter. On average, equities analysts predict that Sumitomo Mitsui Financial Group Inc will post 1.83 EPS for the current year.

Wall Street Analyst Weigh In

SMFG has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

About Sumitomo Mitsui Financial Group

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.