Blue Trust Inc. Reduces Stake in Sumitomo Mitsui Financial Group, Inc.

Blue Trust Inc. has significantly decreased its ownership in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG). According to reports, the firm cut its holdings by 68.0% during the fourth quarter. After selling 26,146 shares, Blue Trust Inc. now holds 12,297 shares of the bank’s stock, with a total value of approximately $178,000 at the end of the quarter.

Other institutional investors have also made adjustments to their positions in Sumitomo Mitsui Financial Group. For instance, Versant Capital Management Inc. entered a new investment in the bank during the same quarter, amounting to about $30,000. Likewise, Richardson Financial Services Inc. increased its stake by 36.8%, owning 3,496 shares worth $51,000, having acquired an additional 940 shares during this period.

Similarly, Bruce G. Allen Investments LLC raised its stake by 29.5%, now possessing 5,445 shares valued at $79,000 after purchasing 1,239 more shares. Assetmark Inc. enhanced its holdings by 23.6% in the previous quarter, bringing its total to 8,738 shares valued at $110,000 after acquiring an additional 1,669 shares. Lastly, Farther Finance Advisors LLC also increased its position by 11.0%, holding 10,183 shares worth $129,000 after purchasing 1,007 shares.

Currently, around 3.85% of Sumitomo Mitsui Financial Group's stock is owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Stock Performance

On the trading floor, shares of Sumitomo Mitsui Financial Group opened at $15.65. The company's financial ratios include a current ratio of 1.06, a quick ratio of 1.05, and a debt-to-equity ratio of 1.94. The 50-day simple moving average stands at $14.71, while the 200-day simple moving average is at $13.78. With a market capitalization of $102.33 billion, the stock has a price-to-earnings ratio of 15.19 and a PEG ratio of 2.35. Over the past twelve months, the stock has reached a low of $10.58 and a high of $15.83.

Changes in Analyst Ratings

Notably, StockNews.com has upgraded Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a recent research note issued on November 23rd.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc., along with its subsidiaries, offers a wide range of services, including banking, leasing, securities, credit cards, and consumer finance across various regions including Japan, the Americas, Europe, the Middle East, Asia, and Oceania. The company operates through several segments such as the Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit.

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