Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 20.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund 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 reporting period.

Several other large investors have also recently made changes to their positions in SMFG. Traveka Wealth LLC increased its stake in Sumitomo Mitsui Financial Group by 3.2% during the 2nd quarter. Traveka Wealth LLC now owns 27,506 shares of the bank’s stock worth $369,000 after buying an additional 859 shares during the period. Aprio Wealth Management LLC increased its stake in Sumitomo Mitsui Financial Group by 7.9% during the 3rd quarter. Aprio Wealth Management LLC now owns 11,795 shares of the bank’s stock worth $149,000 after buying an additional 863 shares during the period. Lake Street Advisors Group LLC increased its stake in Sumitomo Mitsui Financial Group by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 54,183 shares of the bank’s stock worth $684,000 after buying an additional 933 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Sumitomo Mitsui Financial Group by 5.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 20,246 shares of the bank’s stock worth $271,000 after buying an additional 963 shares during the period. Finally, Checchi Capital Advisers LLC increased 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 worth $598,000 after buying an additional 990 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sumitomo Mitsui Financial Group

In related news, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of the stock in a transaction dated Thursday, September 19th. The stock was 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 in the company, valued at approximately $551,773,323.27. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.05% of the company’s stock.

Sumitomo Mitsui Financial Group Trading Down 2.3 %

Shares of NYSE:SMFG opened at $13.96 on Monday. Sumitomo Mitsui Financial Group, Inc. has a 52 week low of $9.16 and a 52 week high of $14.53. The company’s 50 day moving average is $12.92 and its two-hundred day moving average is $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. The company has a market cap of $91.31 billion, a PE ratio of 12.03, a P/E/G ratio of 3.16 and a beta of 0.59.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a research note 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.