Aberdeen Group plc Buys Shares of 33,964 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 position in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) in the 1st quarter, according to its most recent 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.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in shares of Shinhan Financial Group during the first quarter worth $25,000. Cullen Frost Bankers Inc. bought a new stake in shares of Shinhan Financial Group during the first quarter worth $28,000. Tower Research Capital LLC TRC lifted its position in shares of Shinhan Financial Group by 1,884.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank's stock worth $95,000 after purchasing an additional 2,751 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Shinhan Financial Group in the fourth quarter valued at about $125,000. Finally, Bessemer Group Inc. raised its holdings in shares of Shinhan Financial Group by 14.7% in the first quarter. Bessemer Group Inc. now owns 4,077 shares of the bank's stock valued at $131,000 after acquiring an additional 522 shares in the last quarter. 7.76% of the stock is currently owned by institutional investors.

Shinhan Financial Group Stock Up 0.3%

Shares of SHG stock traded up $0.13 on Wednesday, hitting $47.36. The stock had a trading volume of 118,087 shares, compared to its average volume of 141,717. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.48. The business has a 50 day moving average price of $48.13 and a 200 day moving average price of $39.81. The company has a market cap of $22.99 billion, a PE ratio of 4.75, a P/E/G ratio of 0.51 and a beta of 0.93. Shinhan Financial Group Co Ltd has a one year low of $28.76 and a one year high of $52.00.

Wall Street Analyst Weigh In

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 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.