Sumitomo Mitsui Trust Group Inc. Increases Stock Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Futu Holdings Limited (NASDAQ:FUTU) by 183.6% during the fourth quarter, Holdings Channel reports. The firm owned 333,401 shares of the company’s stock after purchasing an additional 215,840 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Futu were worth $26,669,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FUTU. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Futu by 502.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock valued at $53,444,000 after purchasing an additional 465,961 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Futu during the third quarter worth about $39,943,000. Veritas Asset Management LLP purchased a new position in Futu in the 3rd quarter valued at approximately $39,547,000. Yong Rong HK Asset Management Ltd raised its stake in shares of Futu by 2,525.3% during the 3rd quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company’s stock worth $37,667,000 after buying an additional 378,800 shares during the last quarter. Finally, Hhlr Advisors LTD. lifted its stake in Futu by 46.8% in the 3rd quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock valued at $100,537,000 after buying an additional 335,000 shares in the last quarter.

Futu Price Performance

NASDAQ FUTU opened at $105.88 on Wednesday. The company has a market capitalization of $14.59 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 0.77 and a beta of 0.76. Futu Holdings Limited has a 12 month low of $47.68 and a 12 month high of $130.50. The company’s fifty day moving average price is $87.39 and its two-hundred day moving average price is $82.35.

Futu Dividend Announcement

The business also recently declared a — dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 6th were given a dividend of $2.00 per share. The ex-dividend date was Friday, December 6th.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.40.

Futu Company Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.