Bridgewater Advisors Inc. Makes New $322,000 Investment in Shinhan Financial Group Co Ltd (NYSE:SHG)

Bridgewater Advisors Inc. acquired a new stake in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,087 shares of the bank's stock, valued at approximately $322,000.

Other hedge funds have also made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Shinhan Financial Group by 3.2% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 38,576 shares of the bank's stock valued at $1,232,000 after purchasing an additional 1,214 shares in the last quarter. Bleakley Financial Group LLC lifted its position in Shinhan Financial Group by 9.2% in the 1st quarter. Bleakley Financial Group LLC now owns 13,351 shares of the bank's stock valued at $428,000 after purchasing an additional 1,121 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Shinhan Financial Group by 91.1% during the 1st quarter. Cerity Partners LLC now owns 53,954 shares of the bank's stock valued at $1,731,000 after acquiring an additional 25,716 shares during the last quarter. M&T Bank Corp boosted its position in Shinhan Financial Group by 12.5% during the first quarter. M&T Bank Corp now owns 7,026 shares of the bank's stock valued at $225,000 after purchasing an additional 781 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Shinhan Financial Group by 22.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 197,709 shares of the bank's stock worth $6,343,000 after purchasing an additional 35,682 shares during the last quarter. Institutional investors and hedge funds own 7.76% of the company's stock.

Shinhan Financial Group Trading Down 1.5%

SHG stock traded down $0.73 during trading on Friday, reaching $49.25. The company had a trading volume of 126,466 shares, compared to its average volume of 198,759. The business has a 50 day moving average of $43.52 and a 200 day moving average of $37.02. Shinhan Financial Group Co Ltd has a 52 week low of $28.76 and a 52 week high of $51.48. The company has a market cap of $24.42 billion, a P/E ratio of 6.41, a PEG ratio of 0.61 and a beta of 0.92. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.04 and a quick ratio of 1.04.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Shinhan Financial Group from a "hold" rating to a "buy" rating in a research note on Monday, May 19th.

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.