Moran Wealth Management LLC Lowers Stock Holdings in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Moran Wealth Management LLC reduced its position in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 26.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 333,233 shares of the bank's stock after selling 117,966 shares during the period. Moran Wealth Management LLC's holdings in Sumitomo Mitsui Financial Group were worth $4,209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Addison Advisors LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group during the 2nd quarter valued at $25,000. Rothschild Investment LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group during the 2nd quarter valued at $45,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group during the 2nd quarter valued at $59,000. Assetmark Inc. grew its stake in shares of Sumitomo Mitsui Financial Group by 23.6% during the 3rd quarter. Assetmark Inc. now owns 8,738 shares of the bank's stock valued at $110,000 after buying an additional 1,669 shares during the period. Finally, AXA S.A. grew its stake in shares of Sumitomo Mitsui Financial Group by 29.2% during the 2nd quarter. AXA S.A. now owns 9,200 shares of the bank's stock valued at $123,000 after buying an additional 2,081 shares during the period. 3.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sumitomo Mitsui Financial Group

In other Sumitomo Mitsui Financial Group news, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of Sumitomo Mitsui Financial Group stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average price of $59.67 per share, for a total transaction of $551,773,323.27. Following the acquisition, the director now owns 9,247,081 shares of the company's stock, valued at $551,773,323.27. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.05% of the company's stock.

Sumitomo Mitsui Financial Group Stock Down 1.7 %

Shares of NYSE SMFG opened at $13.98 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $91.41 billion, a PE ratio of 12.05, a P/E/G ratio of 3.22 and a beta of 0.59. The firm has a fifty day moving average of $13.00 and a 200-day moving average of $13.01. Sumitomo Mitsui Financial Group, Inc. has a 52-week low of $9.16 and a 52-week high of $14.53.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research note on Friday, November 15th.

Sumitomo Mitsui Financial Group Profile

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.

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