Legacy Wealth Asset Management LLC Invests $627,000 in Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Legacy Wealth Asset Management LLC purchased a new stake in Shinhan Financial Group Co., Ltd. (NYSE:SHG - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 19,555 shares of the bank's stock, valued at approximately $627,000.

Other hedge funds also recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in shares of Shinhan Financial Group in the fourth quarter worth approximately $690,000. AMG National Trust Bank acquired a new position in shares of Shinhan Financial Group during the 4th quarter worth about $1,009,000. Point72 Asset Management L.P. acquired a new position in Shinhan Financial Group during the 4th quarter valued at $434,000. Yousif Capital Management LLC raised its stake in Shinhan Financial Group by 514.6% during the 4th quarter. Yousif Capital Management LLC now owns 47,176 shares of the bank's stock valued at $1,551,000 after purchasing an additional 39,500 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Shinhan Financial Group by 16.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 61,024 shares of the bank's stock valued at $2,006,000 after purchasing an additional 8,646 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.

Shinhan Financial Group Price Performance

Shares of NYSE:SHG traded down $0.45 on Thursday, hitting $42.85. The stock had a trading volume of 233,049 shares, compared to its average volume of 182,744. Shinhan Financial Group Co., Ltd. has a twelve month low of $28.76 and a twelve month high of $46.05. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.04 and a current ratio of 1.04. The firm's 50 day moving average price is $35.87 and its 200-day moving average price is $34.94. The company has a market capitalization of $21.25 billion, a price-to-earnings ratio of 6.73, a price-to-earnings-growth ratio of 0.44 and a beta of 0.84.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The bank reported $1.94 earnings per share for the quarter. The firm had revenue of $2.82 billion during the quarter. Shinhan Financial Group had a return on equity of 7.34% and a net margin of 12.21%. On average, equities research analysts predict that Shinhan Financial Group Co., Ltd. will post 5.97 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Shinhan Financial Group from a "hold" rating to a "buy" rating in a research note on Monday, May 19th.

Shinhan Financial Group Profile

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.