William Blair Investment Management LLC Reduces Stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

William Blair Investment Management LLC reduced its position in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 6.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 225,195 shares of the bank’s stock after selling 16,234 shares during the period. William Blair Investment Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $3,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Versant Capital Management Inc purchased a new position in Sumitomo Mitsui Financial Group in the 4th quarter valued at approximately $30,000. Richardson Financial Services Inc. grew its position in shares of Sumitomo Mitsui Financial Group by 36.8% in the fourth quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank’s stock valued at $51,000 after purchasing an additional 940 shares in the last quarter. Bruce G. Allen Investments LLC grew its position in shares of Sumitomo Mitsui Financial Group by 29.5% in the fourth quarter. Bruce G. Allen Investments LLC now owns 5,445 shares of the bank’s stock valued at $79,000 after purchasing an additional 1,239 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at $86,000. Finally, Parkside Financial Bank & Trust grew its position in shares of Sumitomo Mitsui Financial Group by 32.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 7,944 shares of the bank’s stock valued at $115,000 after purchasing an additional 1,968 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Analysts Set New Price Targets

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

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE:SMFG opened at $16.29 on Thursday. The company has a 50 day moving average of $15.11 and a 200 day moving average of $14.12. The stock has a market cap 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 12 month low of $10.74 and a 12 month 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.

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.