JPMorgan Chase & Co. Purchases 517,179 Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

JPMorgan Chase & Co. increased its position in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 60.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,369,950 shares of the bank’s stock after buying an additional 517,179 shares during the period. JPMorgan Chase & Co.’s holdings in Sumitomo Mitsui Financial Group were worth $17,302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Sumitomo Mitsui Financial Group by 266.5% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,800 shares of the bank’s stock worth $8,258,000 after acquiring an additional 447,800 shares in the last quarter. Benson Investment Management Company Inc. acquired a new stake in Sumitomo Mitsui Financial Group during the third quarter worth approximately $5,182,000. FMR LLC increased its holdings in Sumitomo Mitsui Financial Group by 5.0% in the third quarter. FMR LLC now owns 7,193,840 shares of the bank’s stock worth $90,858,000 after purchasing an additional 342,604 shares in the last quarter. Leuthold Group LLC acquired a new position in Sumitomo Mitsui Financial Group in the third quarter valued at approximately $3,907,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group by 844.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 326,942 shares of the bank’s stock worth $4,129,000 after buying an additional 292,334 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Wall Street Analyst Weigh In

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

Sumitomo Mitsui Financial Group Price Performance

SMFG stock opened at $14.82 on Friday. 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 company’s 50-day moving average is $14.35 and its 200-day moving average is $13.52. The stock has a market capitalization of $96.94 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 3.37 and a beta of 0.63. Sumitomo Mitsui Financial Group, Inc. has a 1 year low of $9.69 and a 1 year high of $15.56.

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.