Aberdeen Group plc Makes New $1.09 Million Investment in Shinhan Financial Group Co Ltd $SHG

Key Points

• Aberdeen Group plc has purchased 33,964 shares in Shinhan Financial Group, investing approximately $1.09 million during the first quarter.
• Other institutional investors like Ranmore Fund Management Ltd and Aigen Investment Management also acquired new stakes in Shinhan Financial, indicating growing institutional interest.
• Wall Street analysts recently upgraded Shinhan Financial Group from a "hold" rating to a "buy" rating, suggesting a positive outlook for the company's stock.

Aberdeen Group plc bought a new stake in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 33,964 shares of the bank's stock, valued at approximately $1,090,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHG. Northern Trust Corp increased its stake in shares of Shinhan Financial Group by 249.2% in the fourth quarter. Northern Trust Corp now owns 1,445,120 shares of the bank's stock valued at $47,516,000 after buying an additional 1,031,257 shares in the last quarter. Ranmore Fund Management Ltd acquired a new stake in shares of Shinhan Financial Group in the first quarter valued at $15,687,000. Millennium Management LLC bought a new position in Shinhan Financial Group in the fourth quarter valued at about $7,600,000. D. E. Shaw & Co. Inc. bought a new position in Shinhan Financial Group in the fourth quarter valued at about $5,830,000. Finally, Voloridge Investment Management LLC bought a new position in Shinhan Financial Group in the fourth quarter valued at about $2,991,000. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Shinhan Financial Group Trading Down 0.3%

Shinhan Financial Group stock traded down $0.14 during mid-day trading on Wednesday, hitting $47.09. The stock had a trading volume of 28,955 shares, compared to its average volume of 226,038. The stock has a 50-day simple moving average of $48.04 and a two-hundred day simple moving average of $39.76. The stock has a market capitalization of $22.86 billion, a PE ratio of 4.72, a P/E/G ratio of 0.51 and a beta of 0.93. Shinhan Financial Group Co Ltd has a 12 month low of $28.76 and a 12 month high of $52.00. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.48.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Shinhan Financial Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd.

Shinhan Financial Group Company 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.