First Trust Advisors LP Raises Stake in Shinhan Financial Group Co Ltd $SHG

Key Points

• First Trust Advisors LP more than doubled its Shinhan Financial Group stake by purchasing 17,759 additional shares in the first quarter, bringing its holdings to 34,286 shares valued at approximately $2.1 million.
• SHG shares opened at $75.91, near their 12-month high of $77.54, while the company reported quarterly EPS of $1.98 and analysts expect full-year EPS of approximately $8.53.
• Analyst sentiment is strongly positive: Weiss Ratings and Zacks Research upgraded the stock, and MarketBeat data shows an average rating of “Strong Buy.”

First Trust Advisors LP increased its holdings in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 107.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,286 shares of the bank's stock after purchasing an additional 17,759 shares during the quarter. First Trust Advisors LP's holdings in Shinhan Financial Group were worth $2,102,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. grew its stake in Shinhan Financial Group by 71.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank's stock worth $26,000 after buying an additional 200 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Shinhan Financial Group in the 4th quarter valued at $38,000. Bell Investment Advisors Inc lifted its holdings in shares of Shinhan Financial Group by 31.3% during the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank's stock valued at $46,000 after acquiring an additional 178 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Shinhan Financial Group by 6,238.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank's stock valued at $44,000 after acquiring an additional 811 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Shinhan Financial Group by 1,465.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank's stock worth $41,000 after purchasing an additional 850 shares during the period. 7.76% of the stock is owned by institutional investors and hedge funds.

Shinhan Financial Group Stock Performance

Shares of SHG stock opened at $75.91 on Friday. Shinhan Financial Group Co Ltd has a 12 month low of $46.26 and a 12 month high of $77.54. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $36.03 billion, a P/E ratio of 10.20, a P/E/G ratio of 0.57 and a beta of 0.94. The company's fifty day moving average price is $68.40 and its two-hundred day moving average price is $65.59.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last announced its earnings results on Tuesday, March 31st. The bank reported $1.98 earnings per share for the quarter. Shinhan Financial Group had a return on equity of 8.69% and a net margin of 15.69%. On average, research analysts anticipate that Shinhan Financial Group Co Ltd will post 8.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SHG has been the subject of several recent research reports. Weiss Ratings upgraded Shinhan Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, May 19th. Zacks Research upgraded Shinhan Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Strong Buy".

Shinhan Financial Group Company Profile

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company's principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.

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