Pzena Investment Management LLC Sells 3,441 Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Pzena Investment Management LLC decreased its position in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 15.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,615 shares of the bank’s stock after selling 3,441 shares during the period. Pzena Investment Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $235,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Traveka Wealth LLC lifted its stake in shares of Sumitomo Mitsui Financial Group by 3.2% in the second quarter. Traveka Wealth LLC now owns 27,506 shares of the bank’s stock worth $369,000 after buying an additional 859 shares in the last quarter. Aprio Wealth Management LLC increased its position in shares of Sumitomo Mitsui Financial Group by 7.9% during the third quarter. Aprio Wealth Management LLC now owns 11,795 shares of the bank’s stock valued at $149,000 after acquiring an additional 863 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in Sumitomo Mitsui Financial Group by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 54,183 shares of the bank’s stock worth $684,000 after acquiring an additional 933 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Sumitomo Mitsui Financial Group by 5.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 20,246 shares of the bank’s stock valued at $271,000 after acquiring an additional 963 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its stake in Sumitomo Mitsui Financial Group by 2.3% during the 2nd quarter. Checchi Capital Advisers LLC now owns 44,580 shares of the bank’s stock valued at $598,000 after purchasing an additional 990 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a report on Friday, November 15th.

Sumitomo Mitsui Financial Group Stock Performance

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

Insiders Place Their Bets

In related news, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were bought at an average cost of $59.67 per share, with a total value of $551,773,323.27. Following the acquisition, the director now owns 9,247,081 shares in the company, valued at $551,773,323.27. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.

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.