CIBC Asset Management Inc Decreases Position in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

CIBC Asset Management Inc reduced its stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 20.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,342 shares of the bank's stock after selling 127,123 shares during the quarter. CIBC Asset Management Inc's holdings in Sumitomo Mitsui Financial Group were worth $6,053,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SMFG. Healthcare of Ontario Pension Plan Trust Fund grew its position in Sumitomo Mitsui Financial Group by 266.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,800 shares of the bank's stock worth $8,258,000 after purchasing an additional 447,800 shares during the last quarter. Benson Investment Management Company Inc. acquired a new position in Sumitomo Mitsui Financial Group in the 3rd quarter valued at about $5,182,000. Leuthold Group LLC acquired a new position in Sumitomo Mitsui Financial Group in the 3rd quarter valued at about $3,907,000. Allspring Global Investments Holdings LLC lifted its position in Sumitomo Mitsui Financial Group by 844.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 326,942 shares of the bank's stock worth $4,129,000 after acquiring an additional 292,334 shares during the period. Finally, XY Capital Ltd purchased a new position in shares of Sumitomo Mitsui Financial Group in the 2nd quarter valued at approximately $1,495,000. 3.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sumitomo Mitsui Financial Group

In related news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of the stock in a transaction dated Thursday, September 19th. The shares were acquired at an average cost of $59.67 per share, with a total value of $551,773,323.27. Following the purchase, the director now directly owns 9,247,081 shares in the company, valued at $551,773,323.27. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.05% of the company's stock.

Sumitomo Mitsui Financial Group Stock Performance

Shares of NYSE:SMFG traded down $0.03 during midday trading on Monday, hitting $13.93. The stock had a trading volume of 1,096,043 shares, compared to its average volume of 1,235,463. The company has a market capitalization of $91.11 billion, a PE ratio of 12.02, a P/E/G ratio of 3.16 and a beta of 0.59. Sumitomo Mitsui Financial Group, Inc. has a 1 year low of $9.16 and a 1 year high of $14.53. The stock has a 50 day moving average price of $12.92 and a two-hundred day moving average price of $12.97. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.92.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a report on Friday.

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.