B. Metzler seel. Sohn & Co. AG Boosts Stock Position 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 grew its stake in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 73.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. lifted 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 valued at $131,000 after buying an additional 522 shares during the period. Jane Street Group LLC acquired a new position in shares of Shinhan Financial Group in the 4th quarter valued at about $690,000. Envestnet Asset Management Inc. lifted its holdings in shares of Shinhan Financial Group by 22.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 197,709 shares of the bank's stock valued at $6,343,000 after buying an additional 35,682 shares during the period. HB Wealth Management LLC acquired a new position in shares of Shinhan Financial Group in the 1st quarter valued at about $203,000. Finally, Ramirez Asset Management Inc. lifted its holdings in shares of Shinhan Financial Group by 11.2% in the 1st quarter. Ramirez Asset Management Inc. now owns 215,892 shares of the bank's stock valued at $6,926,000 after buying an additional 21,727 shares during the period. Institutional investors and hedge funds own 7.76% of the company's stock.

Shinhan Financial Group Price Performance

NYSE SHG traded up $0.83 during trading hours on Wednesday, reaching $47.70. The company's stock had a trading volume of 31,981 shares, compared to its average volume of 224,130. The firm has a market capitalization of $23.16 billion, a price-to-earnings ratio of 4.78, a P/E/G ratio of 0.51 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 debt-to-equity ratio of 1.48, a current ratio of 1.03 and a quick ratio of 1.03. The company's 50-day moving average is $48.43 and its two-hundred day moving average is $40.22.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Shinhan Financial Group from a "buy" rating to a "hold" rating in a 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.