JPMorgan Chase & Co. reduced its stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 25.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,015,206 shares of the bank's stock after selling 354,744 shares during the quarter. JPMorgan Chase & Co.'s holdings in Sumitomo Mitsui Financial Group were worth $14,710,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of SMFG. Farther Finance Advisors LLC grew its stake in Sumitomo Mitsui Financial Group by 7.5% during the fourth quarter. Farther Finance Advisors LLC now owns 10,946 shares of the bank's stock worth $159,000 after buying an additional 763 shares in the last quarter. Wealthstream Advisors Inc. raised its position in Sumitomo Mitsui Financial Group by 7.4% during the fourth quarter. Wealthstream Advisors Inc. now owns 11,483 shares of the bank's stock valued at $166,000 after purchasing an additional 794 shares in the last quarter. Richardson Financial Services Inc. raised its position in Sumitomo Mitsui Financial Group by 36.8% during the fourth quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank's stock valued at $51,000 after purchasing an additional 940 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Sumitomo Mitsui Financial Group by 5.2% during the fourth quarter. Lindbrook Capital LLC now owns 19,343 shares of the bank's stock worth $280,000 after purchasing an additional 948 shares during the last quarter. Finally, Pzena Investment Management LLC increased its stake in shares of Sumitomo Mitsui Financial Group by 5.4% in the 4th quarter. Pzena Investment Management LLC now owns 19,619 shares of the bank's stock valued at $284,000 after purchasing an additional 1,004 shares during the last quarter. Institutional investors own 3.85% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com raised Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research note on Friday, March 21st.
Read Our Latest Research Report on SMFG
Sumitomo Mitsui Financial Group Price Performance
Shares of NYSE SMFG traded up $0.46 during midday trading on Thursday, reaching $13.57. 1,275,105 shares of the company were exchanged, compared to its average volume of 1,735,654. The stock's 50-day moving average price is $14.88 and its 200-day moving average price is $14.33. The stock has a market cap of $87.82 billion, a P/E ratio of 13.17, a PEG ratio of 2.36 and a beta of 0.41. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.94. Sumitomo Mitsui Financial Group, Inc. has a one year low of $10.74 and a one year high of $16.74.
Sumitomo Mitsui Financial Group Profile
(
Free Report)
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.
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