Sumitomo Mitsui Financial Group (NYSE:SMFG) Sets New 1-Year High – Here’s Why

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $14.60 and last traded at $14.47, with a volume of 138430 shares traded. The stock had previously closed at $14.27.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday.

Sumitomo Mitsui Financial Group Trading Up 1.5 %

The business’s 50-day moving average is $13.06 and its two-hundred day moving average is $13.06. The stock has a market capitalization of $94.71 billion, a PE ratio of 12.49, a PEG ratio of 3.23 and a beta of 0.59. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.91.

Insider Buying and Selling

In other Sumitomo Mitsui Financial Group news, Director Mitsui Financial Grou Sumitomo acquired 9,247,081 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were bought at an average cost of $59.67 per share, for a total transaction of $551,773,323.27. Following the acquisition, the director now directly owns 9,247,081 shares of the company’s stock, valued at $551,773,323.27. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Sumitomo Mitsui Financial Group

Several institutional investors have recently added to or reduced their stakes in SMFG. FMR LLC raised its stake in Sumitomo Mitsui Financial Group by 5.0% during the third quarter. FMR LLC now owns 7,193,840 shares of the bank’s stock worth $90,858,000 after acquiring an additional 342,604 shares during the period. American Century Companies Inc. increased its stake in shares of Sumitomo Mitsui Financial Group by 5.4% in the second quarter. American Century Companies Inc. now owns 1,344,869 shares of the bank’s stock valued at $18,035,000 after purchasing an additional 69,145 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake 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 valued at $8,258,000 after acquiring an additional 447,800 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Sumitomo Mitsui Financial Group by 7.2% during the second quarter. Natixis Advisors LLC now owns 588,690 shares of the bank’s stock valued at $7,894,000 after purchasing an additional 39,412 shares during the period. Finally, Quantinno Capital Management LP raised its stake in shares of Sumitomo Mitsui Financial Group by 23.5% during the third quarter. Quantinno Capital Management LP now owns 546,173 shares of the bank’s stock valued at $6,898,000 after purchasing an additional 103,810 shares in the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

About Sumitomo Mitsui Financial Group

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.