Parallel Advisors LLC Has $800,000 Stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Parallel Advisors LLC lowered its stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,222 shares of the bank’s stock after selling 1,125 shares during the period. Parallel Advisors LLC’s holdings in Sumitomo Mitsui Financial Group were worth $800,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Sumitomo Mitsui Financial Group by 35.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 30,786 shares of the bank’s stock valued at $446,000 after buying an additional 8,018 shares during the period. Choate Investment Advisors acquired a new stake in shares of Sumitomo Mitsui Financial Group during the 4th quarter valued at $156,000. Natixis Advisors LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 53.5% during the 4th quarter. Natixis Advisors LLC now owns 900,374 shares of the bank’s stock valued at $13,046,000 after buying an additional 313,642 shares during the period. Avantax Advisory Services Inc. boosted its stake in shares of Sumitomo Mitsui Financial Group by 30.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 26,494 shares of the bank’s stock valued at $384,000 after buying an additional 6,182 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 7.5% during the 4th quarter. Farther Finance Advisors LLC now owns 10,946 shares of the bank’s stock valued at $159,000 after purchasing an additional 763 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, March 13th.

Sumitomo Mitsui Financial Group Stock Up 0.6 %

Sumitomo Mitsui Financial Group stock opened at $16.29 on Thursday. The company has a market capitalization of $105.49 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.36 and a beta of 0.59. Sumitomo Mitsui Financial Group, Inc. has a 1-year low of $10.74 and a 1-year high of $16.39. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94. The firm’s fifty day simple moving average is $15.11 and its 200-day simple moving average is $14.12.

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.