Hartford Investment Management Co. Buys Shares of 19,610 Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Hartford Investment Management Co. bought a new position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,610 shares of the bank’s stock, valued at approximately $154,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fisher Asset Management LLC acquired a new position in Sumitomo Mitsui Financial Group during the second quarter worth $384,943,000. Bank of America Corp DE raised its position in Sumitomo Mitsui Financial Group by 24.4% in the first quarter. Bank of America Corp DE now owns 12,163,994 shares of the bank’s stock worth $88,188,000 after buying an additional 2,386,542 shares during the last quarter. Morgan Stanley raised its position in Sumitomo Mitsui Financial Group by 0.4% in the first quarter. Morgan Stanley now owns 7,628,912 shares of the bank’s stock worth $55,309,000 after buying an additional 26,708 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Sumitomo Mitsui Financial Group by 14.7% in the first quarter. Parametric Portfolio Associates LLC now owns 4,829,268 shares of the bank’s stock worth $35,012,000 after buying an additional 620,352 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Sumitomo Mitsui Financial Group by 1.6% in the first quarter. Lazard Asset Management LLC now owns 3,516,391 shares of the bank’s stock worth $25,493,000 after buying an additional 55,763 shares during the last quarter. 2.19% of the stock is currently owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) traded up 0.94% during mid-day trading on Friday, reaching $7.55. The company had a trading volume of 722,737 shares. Sumitomo Mitsui Financial Group Inc has a 12-month low of $6.39 and a 12-month high of $8.30. The company has a market capitalization of $53.23 billion, a price-to-earnings ratio of 8.40 and a beta of 1.30. The stock has a 50-day moving average of $7.68 and a 200 day moving average of $7.58.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Monday, July 31st. The bank reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.11. Sumitomo Mitsui Financial Group had a return on equity of 6.95% and a net margin of 14.43%. The business had revenue of $12.25 billion during the quarter. On average, analysts expect that Sumitomo Mitsui Financial Group Inc will post $0.87 EPS for the current year.

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SMFG has been the topic of a number of recent analyst reports. ValuEngine raised Sumitomo Mitsui Financial Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. BidaskClub upgraded Sumitomo Mitsui Financial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th. Finally, UBS AG upgraded Sumitomo Mitsui Financial Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy”.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc is a holding company for Sumitomo Mitsui Banking Corporation (the Bank) and its subsidiaries. The Company operates through four segments: Commercial Banking, Leasing, Securities and Consumer Finance. The Company and its subsidiaries offer a range of financial services, including commercial banking, leasing, securities, consumer finance and other services.

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

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