Arrowstreet Capital Limited Partnership Cuts Holdings in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Arrowstreet Capital Limited Partnership cut its position in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 76.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 409,579 shares of the bank's stock after selling 1,341,603 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Sumitomo Mitsui Financial Group were worth $5,935,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SMFG. Versant Capital Management Inc acquired a new position in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth $30,000. 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 worth $51,000 after acquiring an additional 940 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 29.5% in the fourth quarter. Bruce G. Allen Investments LLC now owns 5,445 shares of the bank's stock valued at $79,000 after purchasing an additional 1,239 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at approximately $86,000. Finally, Parkside Financial Bank & Trust grew its position in shares of Sumitomo Mitsui Financial Group by 32.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 7,944 shares of the bank's stock valued at $115,000 after purchasing an additional 1,968 shares during the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Sumitomo Mitsui Financial Group Trading Up 3.6 %

Shares of NYSE SMFG traded up $0.45 during midday trading on Friday, reaching $12.91. 3,184,191 shares of the stock were exchanged, compared to its average volume of 1,283,040. The stock has a 50 day moving average price of $14.98 and a 200-day moving average price of $14.32. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $83.55 billion, a P/E ratio of 12.53, a P/E/G ratio of 2.36 and a beta of 0.41. Sumitomo Mitsui Financial Group, Inc. has a 52-week low of $10.74 and a 52-week high of $16.74.

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.