GAMMA Investing LLC Raises Stake in Shinhan Financial Group Co Ltd (NYSE:SHG)

GAMMA Investing LLC boosted its position in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 2,895.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,093 shares of the bank's stock after purchasing an additional 45,521 shares during the quarter. GAMMA Investing LLC's holdings in Shinhan Financial Group were worth $1,468,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sierra Ocean LLC bought a new position in Shinhan Financial Group in the fourth quarter worth about $43,000. Tower Research Capital LLC TRC grew its stake in shares of 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 worth $95,000 after acquiring an additional 2,751 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Shinhan Financial Group during the fourth quarter worth about $125,000. Sterling Capital Management LLC grew its stake in shares of Shinhan Financial Group by 8.1% during the fourth quarter. Sterling Capital Management LLC now owns 5,564 shares of the bank's stock worth $183,000 after acquiring an additional 415 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Shinhan Financial Group by 11.7% during the fourth quarter. M&T Bank Corp now owns 6,245 shares of the bank's stock worth $205,000 after acquiring an additional 655 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Shinhan Financial Group Stock Down 1.1%

Shares of SHG stock traded down $0.48 during trading hours on Wednesday, reaching $43.01. 169,281 shares of the company's stock were exchanged, compared to its average volume of 184,716. Shinhan Financial Group Co Ltd has a 1 year low of $28.76 and a 1 year high of $46.05. The stock has a market cap of $21.33 billion, a PE ratio of 5.60, a PEG ratio of 0.54 and a beta of 0.90. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.51. The stock's fifty day moving average price is $38.11 and its two-hundred day moving average price is $35.19.

Shinhan Financial Group Company 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.