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

Envestnet Asset Management Inc. raised its holdings in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,803,684 shares of the bank's stock after buying an additional 70,946 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $26,135,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in Sumitomo Mitsui Financial Group by 76.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 576,485 shares of the bank's stock valued at $8,301,000 after purchasing an additional 249,543 shares during the period. Capital Insight Partners LLC grew its stake in shares of Sumitomo Mitsui Financial Group by 59.9% during the 4th quarter. Capital Insight Partners LLC now owns 49,157 shares of the bank's stock valued at $712,000 after buying an additional 18,415 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Sumitomo Mitsui Financial Group by 83.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 42,309 shares of the bank's stock worth $616,000 after buying an additional 19,224 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Sumitomo Mitsui Financial Group by 139.7% during the 4th quarter. Bank of New York Mellon Corp now owns 745,849 shares of the bank's stock worth $10,807,000 after buying an additional 434,728 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 18.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 482,783 shares of the bank's stock worth $6,996,000 after buying an additional 76,862 shares during the period. Institutional investors and hedge funds own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Trading Up 3.4 %

NYSE SMFG traded up $0.45 during mid-day trading on Friday, hitting $13.56. The company's stock had a trading volume of 3,304,072 shares, compared to its average volume of 1,320,796. The firm has a market capitalization of $87.76 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 2.36 and a beta of 0.41. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05. Sumitomo Mitsui Financial Group, Inc. has a 52-week low of $10.74 and a 52-week high of $16.74. The stock's fifty day simple moving average is $14.83 and its two-hundred day simple moving average is $14.34.

Analysts Set New Price Targets

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

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.