84,207 Shares in Shinhan Financial Group Co Ltd $SHG Acquired by Nykredit A S

Key Points

• Nykredit A/S acquired 84,207 shares of Shinhan Financial Group during the second quarter, valued at approximately $5.3 million. Institutional and hedge-fund investors collectively own 7.76% of the company.
• Analyst sentiment is strongly positive: Zacks Research upgraded the stock to “strong buy,” while another analyst reaffirmed a “buy” rating, producing a consensus “Strong Buy” recommendation.
• SHG shares opened at $82.23, near their 52-week high of $84.65, and the company reported quarterly earnings of $2.26 per share on $2.96 billion in revenue.

Nykredit A S bought a new stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 84,207 shares of the bank's stock, valued at approximately $5,326,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. grew its position in Shinhan Financial Group by 71.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank's stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Shinhan Financial Group in the fourth quarter valued at about $38,000. Northwestern Mutual Wealth Management Co. grew its holdings in Shinhan Financial Group by 1,465.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank's stock valued at $41,000 after buying an additional 850 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Shinhan Financial Group by 6,238.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank's stock worth $44,000 after acquiring an additional 811 shares during the last quarter. Finally, Bell Investment Advisors Inc grew its position in Shinhan Financial Group by 31.3% in the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank's stock worth $46,000 after purchasing an additional 178 shares during the last quarter. 7.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Zacks Research upgraded Shinhan Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Shinhan Financial Group in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Strong Buy".

Shinhan Financial Group Stock Down 0.1%

Shares of NYSE:SHG opened at $82.23 on Monday. The company has a 50 day moving average of $72.88 and a 200-day moving average of $67.76. The stock has a market cap of $38.60 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 0.62 and a beta of 0.96. Shinhan Financial Group Co Ltd has a one year low of $46.26 and a one year high of $84.65. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.98 and a quick ratio of 0.98.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The bank reported $2.26 earnings per share for the quarter. Shinhan Financial Group had a return on equity of 8.63% and a net margin of 15.69%.The company had revenue of $2.96 billion for the quarter. On average, sell-side analysts forecast that Shinhan Financial Group Co Ltd will post 8.53 earnings per share for the current year.

About Shinhan Financial Group

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company's principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.

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