Accident Compensation Corp trimmed its holdings in shares of Sumitomo Mitsui Financial Grp, Inc. (NYSE:SMFG) by 8.2% during the 1st quarter, HoldingsChannel reports. The fund owned 279,092 shares of the bank’s stock after selling 25,000 shares during the period. Accident Compensation Corp’s holdings in Sumitomo Mitsui Financial Grp were worth $1,962,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sontag Advisory LLC bought a new position in Sumitomo Mitsui Financial Grp during the 4th quarter worth about $25,000. Cornerstone Advisors Inc. grew its holdings in Sumitomo Mitsui Financial Grp by 97.0% during the 1st quarter. Cornerstone Advisors Inc. now owns 3,903 shares of the bank’s stock worth $27,000 after acquiring an additional 1,922 shares in the last quarter. Liberty Wealth Management LLC bought a new position in Sumitomo Mitsui Financial Grp during the 4th quarter worth about $45,000. Acadian Asset Management LLC bought a new position in Sumitomo Mitsui Financial Grp during the 4th quarter worth about $63,000. Finally, Lantz Financial LLC bought a new position in Sumitomo Mitsui Financial Grp during the 1st quarter worth about $85,000. Institutional investors own 2.77% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Sumitomo Mitsui Financial Grp from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a report on Tuesday, June 4th.

Shares of Sumitomo Mitsui Financial Grp stock opened at $6.89 on Monday. Sumitomo Mitsui Financial Grp, Inc. has a 1 year low of $6.32 and a 1 year high of $8.44. The stock has a market cap of $48.71 billion, a price-to-earnings ratio of 7.18, a price-to-earnings-growth ratio of 2.73 and a beta of 1.23.

Sumitomo Mitsui Financial Grp (NYSE:SMFG) last issued its earnings results on Wednesday, May 15th. The bank reported $0.13 earnings per share (EPS) for the quarter. Sumitomo Mitsui Financial Grp had a net margin of 12.67% and a return on equity of 6.31%. The company had revenue of $12.21 billion for the quarter. On average, equities analysts anticipate that Sumitomo Mitsui Financial Grp, Inc. will post 0.94 earnings per share for the current year.

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Sumitomo Mitsui Financial Grp Profile

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services primarily in Japan. It operates through four segments: Wholesale Business, Retail Business, International Business, and Global Markets Business.

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

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