Sumitomo Mitsui Financial Group (NYSE:SMFG) Sets New 52-Week High – What’s Next?

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $15.25 and last traded at $15.25, with a volume of 1478 shares changing hands. The stock had previously closed at $14.81.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised 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

The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.05 and a current ratio of 1.06. The stock’s 50-day moving average is $13.32 and its two-hundred day moving average is $13.19. The stock has a market cap of $100.83 billion, a PE ratio of 13.29, a PEG ratio of 3.46 and a beta of 0.63.

Insider Activity

In other Sumitomo Mitsui Financial Group news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of Sumitomo Mitsui Financial Group stock in a transaction dated Thursday, September 19th. The shares were acquired at an average price of $59.67 per share, with a total value of $551,773,323.27. Following the completion of the transaction, the director now owns 9,247,081 shares of the company’s stock, valued at $551,773,323.27. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Hedge funds have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Sumitomo Mitsui Financial Group by 266.5% in the second 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 position in Sumitomo Mitsui Financial Group during the 3rd quarter worth $5,182,000. FMR LLC increased its holdings in Sumitomo Mitsui Financial Group by 5.0% during the 3rd 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 during the period. Leuthold Group LLC acquired a new stake in Sumitomo Mitsui Financial Group in the 3rd quarter valued at about $3,907,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 844.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 326,942 shares of the bank’s stock valued at $4,129,000 after buying an additional 292,334 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

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.