Elevation Point Wealth Partners LLC Buys Shares of 76,663 Sumitomo Mitsui Financial Group Inc $SMFG

Elevation Point Wealth Partners LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) during the first quarter, Holdings Channel.com reports. The fund purchased 76,663 shares of the bank’s stock, valued at approximately $1,514,000.

Other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in Sumitomo Mitsui Financial Group by 26.0% during the first quarter. AQR Capital Management LLC now owns 177,249 shares of the bank’s stock worth $2,740,000 after purchasing an additional 36,522 shares during the period. Focus Partners Wealth raised its position in shares of Sumitomo Mitsui Financial Group by 40.5% in the first quarter. Focus Partners Wealth now owns 18,253 shares of the bank’s stock valued at $282,000 after purchasing an additional 5,258 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 41.6% in the first quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock valued at $49,000 after purchasing an additional 930 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Sumitomo Mitsui Financial Group by 336.4% during the 1st quarter. Acadian Asset Management LLC now owns 39,574 shares of the bank’s stock valued at $610,000 after buying an additional 30,506 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its stake in shares of Sumitomo Mitsui Financial Group by 43.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 32,398 shares of the bank’s stock valued at $490,000 after buying an additional 9,876 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE:SMFG opened at $24.55 on Monday. The company has a 50 day moving average of $22.82 and a 200 day moving average of $21.51. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.48. The stock has a market cap of $156.58 billion, a P/E ratio of 18.32, a P/E/G ratio of 0.66 and a beta of 0.42. Sumitomo Mitsui Financial Group Inc has a 12 month low of $14.40 and a 12 month high of $25.35.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share (EPS) for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.19%. The business had revenue of $7.31 billion for the quarter. As a group, sell-side analysts forecast that Sumitomo Mitsui Financial Group Inc will post 1.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday. Wall Street Zen downgraded Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Zacks Research lowered Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group 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.