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

Gradient Investments LLC cut its holdings in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 28.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 34,477 shares of the bank’s stock after selling 13,390 shares during the period. Gradient Investments LLC’s holdings in Sumitomo Mitsui Financial Group were worth $500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aprio Wealth Management LLC boosted its position in Sumitomo Mitsui Financial Group by 7.9% during the third quarter. Aprio Wealth Management LLC now owns 11,795 shares of the bank’s stock worth $149,000 after purchasing an additional 863 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 54,183 shares of the bank’s stock valued at $684,000 after buying an additional 933 shares in the last quarter. Werba Rubin Papier Wealth Management grew its stake in Sumitomo Mitsui Financial Group by 5.0% in the 3rd quarter. Werba Rubin Papier Wealth Management now owns 21,066 shares of the bank’s stock valued at $266,000 after acquiring an additional 1,001 shares during the period. Farther Finance Advisors LLC increased its holdings in Sumitomo Mitsui Financial Group by 11.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 10,183 shares of the bank’s stock worth $129,000 after acquiring an additional 1,007 shares in the last quarter. Finally, West Family Investments Inc. raised its position in Sumitomo Mitsui Financial Group by 4.7% during the third quarter. West Family Investments Inc. now owns 26,905 shares of the bank’s stock worth $340,000 after acquiring an additional 1,220 shares during the period. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Price Performance

NYSE:SMFG opened at $14.59 on Friday. The stock has a 50 day moving average of $14.55 and a two-hundred day moving average of $13.62. Sumitomo Mitsui Financial Group, Inc. has a 12 month low of $10.05 and a 12 month high of $15.56. The firm has a market cap of $95.40 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 3.28 and a beta of 0.63. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.91.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, November 23rd.

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.