Aprio Wealth Management LLC Raises Stock Position in Shinhan Financial Group Co Ltd $SHG

Key Points

• Aprio Wealth Management LLC increased its holdings in Shinhan Financial Group by 47.1%, acquiring an additional 5,918 shares and bringing its total ownership to 18,494 shares valued at $593,000.
• A significant 249.2% increase in holdings of Shinhan Financial Group was reported by Northern Trust Corp during the 4th quarter, with a total of 1,445,120 shares now owned.
• Wall Street analysts downgraded Shinhan Financial Group from a "buy" rating to a "hold" rating on August 30th, indicating a shift in market sentiment.

Aprio Wealth Management LLC increased its holdings in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 47.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,494 shares of the bank's stock after purchasing an additional 5,918 shares during the period. Aprio Wealth Management LLC's holdings in Shinhan Financial Group were worth $593,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SHG. Wayfinding Financial LLC bought a new position in shares of Shinhan Financial Group during the first quarter valued at approximately $25,000. Cullen Frost Bankers Inc. bought a new position in shares of Shinhan Financial Group during the first quarter valued at approximately $28,000. Tower Research Capital LLC TRC lifted its position in 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 valued at $95,000 after acquiring an additional 2,751 shares during the last quarter. Bessemer Group Inc. lifted its position in Shinhan Financial Group by 14.7% during 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 during the last quarter. Finally, HB Wealth Management LLC purchased a new stake in Shinhan Financial Group during the first quarter valued at approximately $203,000. 7.76% of the stock is currently owned by institutional investors.

Shinhan Financial Group Stock Performance

Shares of NYSE SHG traded down $0.11 during midday trading on Friday, reaching $46.79. The company had a trading volume of 211,270 shares, compared to its average volume of 128,303. The business's 50-day simple moving average is $48.60 and its 200 day simple moving average is $40.49. The stock has a market cap of $22.72 billion, a P/E ratio of 4.69, a P/E/G ratio of 0.50 and a beta of 0.96. Shinhan Financial Group Co Ltd has a 1 year low of $28.76 and a 1 year 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 Ratings Changes

Separately, Wall Street Zen cut shares of Shinhan Financial Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th.

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.