HighTower Advisors LLC Lowers Stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

HighTower Advisors LLC decreased its position in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 15.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 246,596 shares of the bank's stock after selling 46,126 shares during the period. HighTower Advisors LLC's holdings in Sumitomo Mitsui Financial Group were worth $3,125,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Cetera Advisors LLC purchased a new position in shares of Sumitomo Mitsui Financial Group in the 1st quarter worth about $235,000. CWM LLC grew its holdings in shares of Sumitomo Mitsui Financial Group by 9.3% during the second quarter. CWM LLC now owns 17,171 shares of the bank's stock valued at $230,000 after buying an additional 1,456 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Sumitomo Mitsui Financial Group by 5.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 20,246 shares of the bank's stock valued at $271,000 after acquiring an additional 963 shares in the last quarter. Blue Trust Inc. raised its holdings in Sumitomo Mitsui Financial Group by 212.3% in the 2nd quarter. Blue Trust Inc. now owns 15,936 shares of the bank's stock worth $214,000 after acquiring an additional 10,833 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC lifted its position in Sumitomo Mitsui Financial Group by 12.7% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 41,618 shares of the bank's stock valued at $558,000 after acquiring an additional 4,692 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Stock Performance

Shares of NYSE SMFG traded down $0.02 during midday trading on Friday, hitting $14.89. 3,740,442 shares of the stock traded hands, compared to its average volume of 1,216,031. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.05 and a current ratio of 1.06. Sumitomo Mitsui Financial Group, Inc. has a one year low of $9.16 and a one year high of $15.56. The firm has a market capitalization of $97.39 billion, a P/E ratio of 12.84, a PEG ratio of 3.41 and a beta of 0.63. The firm has a 50-day moving average of $13.67 and a two-hundred day moving average of $13.30.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday, November 23rd.

Insiders Place Their Bets

In other Sumitomo Mitsui Financial Group news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of the firm's stock in a transaction on Thursday, September 19th. The shares were acquired at an average cost of $59.67 per share, for a total transaction of $551,773,323.27. Following the completion of the transaction, the director now owns 9,247,081 shares of the company's stock, valued at approximately $551,773,323.27. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.05% of the company's stock.

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.