Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) Shares Acquired by LPL Financial LLC

LPL Financial LLC lifted its stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 264.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 324,992 shares of the bank's stock after acquiring an additional 235,934 shares during the period. LPL Financial LLC's holdings in Sumitomo Mitsui Financial Group were worth $4,709,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 12.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,921 shares of the bank's stock worth $5,127,000 after purchasing an additional 45,761 shares during the period. Allspring Global Investments Holdings LLC increased its position in Sumitomo Mitsui Financial Group by 76.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 576,485 shares of the bank's stock worth $8,301,000 after purchasing an additional 249,543 shares in the last quarter. Capital Insight Partners LLC increased its position in 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 worth $712,000 after purchasing an additional 18,415 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Sumitomo Mitsui Financial Group by 83.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 42,309 shares of the bank's stock valued at $616,000 after buying an additional 19,224 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Sumitomo Mitsui Financial Group by 139.7% during the fourth quarter. Bank of New York Mellon Corp now owns 745,849 shares of the bank's stock valued at $10,807,000 after buying an additional 434,728 shares in the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Separately, StockNews.com raised 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 4.2 %

Shares of SMFG traded up $0.56 during midday trading on Tuesday, reaching $13.67. 619,817 shares of the company were exchanged, compared to its average volume of 1,685,010. 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 1-year low of $10.74 and a 1-year high of $16.74. The company has a market cap of $88.47 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 2.36 and a beta of 0.41. The stock has a 50-day moving average price of $14.94 and a 200-day moving average price of $14.34.

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.