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

LPL Financial LLC grew its stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 264.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 324,992 shares of the bank’s stock after purchasing an additional 235,934 shares during the period. LPL Financial LLC’s holdings in Sumitomo Mitsui Financial Group were worth $4,709,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 12.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,921 shares of the bank’s stock worth $5,127,000 after acquiring an additional 45,761 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Sumitomo Mitsui Financial Group by 76.3% in the 4th 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 in the last quarter. Capital Insight Partners LLC increased its position in shares of Sumitomo Mitsui Financial Group by 59.9% in 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 during the last quarter. Smartleaf Asset Management LLC lifted its holdings in 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. Finally, Bank of New York Mellon Corp boosted its holdings in Sumitomo Mitsui Financial Group by 139.7% in the fourth quarter. Bank of New York Mellon Corp now owns 745,849 shares of the bank’s stock worth $10,807,000 after purchasing an additional 434,728 shares during the period. 3.85% of the stock is owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Trading Up 10.2 %

Shares of SMFG stock opened at $13.50 on Thursday. The stock has a fifty day moving average of $15.06 and a two-hundred day moving average of $14.32. The firm has a market capitalization of $87.39 billion, a PE ratio of 13.10, 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 quick ratio of 1.05 and a current ratio of 1.06. Sumitomo Mitsui Financial Group, Inc. has a 1 year low of $10.74 and a 1 year high of $16.74.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Friday, March 21st.

About Sumitomo Mitsui Financial Group

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.