B. Metzler seel. Sohn & Co. AG Raises Stock Holdings in Shinhan Financial Group Co Ltd $SHG

Key Points

• B. Metzler seel. Sohn & Co. AG increased its stake in Shinhan Financial Group by 73.5% in the first quarter, acquiring an additional 51,283 shares worth approximately $3.88 million.
• Other institutional investors, such as Gabelli Funds LLC and Causeway Capital Management LLC, also boosted their stakes, indicating growing interest in the bank's stock.
• Wall Street analysts upgraded Shinhan Financial Group from a "hold" to a "buy" rating, suggesting positive growth prospects for the company.

B. Metzler seel. Sohn & Co. AG lifted its position in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 73.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,012 shares of the bank's stock after buying an additional 51,283 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Shinhan Financial Group were worth $3,882,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in shares of Shinhan Financial Group by 4.3% in the 4th quarter. Ameriprise Financial Inc. now owns 8,575 shares of the bank's stock worth $282,000 after buying an additional 351 shares during the last quarter. Aquatic Capital Management LLC increased its holdings in shares of Shinhan Financial Group by 2.8% in the 4th quarter. Aquatic Capital Management LLC now owns 14,471 shares of the bank's stock worth $476,000 after buying an additional 392 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Shinhan Financial Group by 5.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,321 shares of the bank's stock worth $274,000 after buying an additional 442 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Shinhan Financial Group by 14.7% in the 1st quarter. Bessemer Group Inc. now owns 4,077 shares of the bank's stock worth $131,000 after buying an additional 522 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Shinhan Financial Group by 1.7% in the 1st quarter. Invesco Ltd. now owns 39,492 shares of the bank's stock worth $1,267,000 after buying an additional 649 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.

Shinhan Financial Group Price Performance

NYSE SHG traded down $0.84 on Friday, reaching $47.21. 194,475 shares of the company's stock traded hands, compared to its average volume of 132,368. 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 debt-to-equity ratio of 1.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a 50-day simple moving average of $48.31 and a 200 day simple moving average of $40.08. The stock has a market cap of $22.92 billion, a PE ratio of 4.73, a P/E/G ratio of 0.51 and a beta of 0.96.

Analyst Upgrades and Downgrades

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

About Shinhan Financial Group

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.