Raymond James Financial Inc. Invests $1.59 Million in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Raymond James Financial Inc. acquired a new stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 109,419 shares of the bank's stock, valued at approximately $1,585,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SMFG. FMR LLC boosted its position in Sumitomo Mitsui Financial Group by 16.5% in the 4th quarter. FMR LLC now owns 8,383,293 shares of the bank's stock valued at $121,474,000 after buying an additional 1,189,453 shares during the period. Envestnet Asset Management Inc. grew its stake in Sumitomo Mitsui Financial Group by 4.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,803,684 shares of the bank's stock worth $26,135,000 after purchasing an additional 70,946 shares in the last quarter. Pitcairn Co. increased its holdings in Sumitomo Mitsui Financial Group by 2.6% during the 4th quarter. Pitcairn Co. now owns 34,133 shares of the bank's stock worth $495,000 after purchasing an additional 876 shares during the period. World Investment Advisors raised its position in Sumitomo Mitsui Financial Group by 27.9% in the 4th quarter. World Investment Advisors now owns 14,169 shares of the bank's stock valued at $205,000 after purchasing an additional 3,090 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter valued at about $2,009,000. Hedge funds and other institutional investors own 3.85% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research note on Friday, March 21st.

Sumitomo Mitsui Financial Group Stock Up 1.0 %

Shares of SMFG stock traded up $0.14 on Monday, reaching $14.01. 2,534,812 shares of the stock were exchanged, compared to its average volume of 1,369,269. The company has a market capitalization of $90.70 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 2.36 and a beta of 0.41. The business's 50 day moving average price is $14.55 and its 200 day moving average price is $14.43. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94. Sumitomo Mitsui Financial Group, Inc. has a twelve month low of $10.74 and a twelve month high of $16.74.

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.