Jefferies rises after report Japan's Sumitomo Mitsui looking to boost stake

** Investment bank Jefferies Financial Group's JEF.N shares rise 4.9% to $69.77

** Japan's Sumitomo Mitsui Financial Group 8316.T is mulling increasing its stake in JEF to about 20%, Bloomberg News reports, citing people familiar with matter

** Tokyo-based Sumitomo Mitsui could boost stake by potentially acquiring preferred stock, report said

** JEF did not immediately respond to Reuters' request for comment

** 3 of 5 brokerages rate stock "buy" or higher and 2 "hold"; median PT is $75 - data compiled by LSEG

** As of last close, JEF shares down 15.1% YTD