Advisors Asset Management Inc. Boosts Stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Advisors Asset Management Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 13.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,857 shares of the bank’s stock after purchasing an additional 7,139 shares during the quarter. Advisors Asset Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $743,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Russell Investments Group Ltd. increased its position in shares of Sumitomo Mitsui Financial Group by 38.7% during the first quarter. Russell Investments Group Ltd. now owns 25,753 shares of the bank’s stock valued at $303,000 after acquiring an additional 7,192 shares during the last quarter. Cetera Advisors LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the 1st quarter worth approximately $235,000. Boston Partners increased its holdings in Sumitomo Mitsui Financial Group by 56.6% in the 1st quarter. Boston Partners now owns 251,597 shares of the bank’s stock valued at $2,959,000 after purchasing an additional 90,959 shares during the last quarter. Park Avenue Securities LLC raised its position in Sumitomo Mitsui Financial Group by 12.6% in the second quarter. Park Avenue Securities LLC now owns 125,683 shares of the bank’s stock valued at $1,685,000 after purchasing an additional 14,076 shares during the period. Finally, CWM LLC lifted its stake in Sumitomo Mitsui Financial Group by 9.3% during the second quarter. CWM LLC now owns 17,171 shares of the bank’s stock worth $230,000 after purchasing an additional 1,456 shares in the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average cost of $59.67 per share, with a total value of $551,773,323.27. Following the purchase, the director now directly owns 9,247,081 shares of the company’s stock, valued at $551,773,323.27. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.05% of the stock is owned by insiders.

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 Saturday.

Sumitomo Mitsui Financial Group Stock Down 2.7 %

Shares of NYSE:SMFG opened at $14.09 on Wednesday. The firm has a market capitalization of $92.16 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 3.23 and a beta of 0.59. Sumitomo Mitsui Financial Group, Inc. has a 1 year low of $9.16 and a 1 year high of $14.60. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.06 and a quick ratio of 1.05. The firm’s 50-day moving average is $13.12 and its two-hundred day moving average is $13.09.

Sumitomo Mitsui Financial Group Company 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.