Northern Trust Corp Boosts Stock Holdings in Shinhan Financial Group Co Ltd $SHG

Key Points

• Northern Trust Corp increased its stake in Shinhan Financial Group by 3.9%, holding over 1.5 million shares valued at approximately $48 million as of the latest SEC filing.
• Several other institutions, including Ameriprise Financial and Bessemer Group, also raised their positions in Shinhan Financial during the previous quarters, indicating increasing institutional interest.
• Shinhan Financial Group's stock saw a slight uptick of 0.3%, currently trading around $47.36, with a market cap of nearly $23 billion and a recent upgrade from a "hold" to a "buy" rating by Wall Street analysts.

Northern Trust Corp boosted its holdings in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,501,208 shares of the bank's stock after buying an additional 56,088 shares during the quarter. Northern Trust Corp owned approximately 0.30% of Shinhan Financial Group worth $48,159,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Lazard Asset Management LLC raised its holdings in Shinhan Financial Group by 4.4% in the 4th quarter. Lazard Asset Management LLC now owns 1,353,820 shares of the bank's stock valued at $44,513,000 after buying an additional 57,640 shares during the last quarter. Pzena Investment Management LLC increased its position in Shinhan Financial Group by 0.4% during the 1st quarter. Pzena Investment Management LLC now owns 1,078,696 shares of the bank's stock valued at $34,605,000 after purchasing an additional 4,645 shares during the period. American Century Companies Inc. increased its position in Shinhan Financial Group by 6.9% during the 1st quarter. American Century Companies Inc. now owns 840,232 shares of the bank's stock valued at $26,955,000 after purchasing an additional 54,204 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Shinhan Financial Group by 10.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 617,210 shares of the bank's stock valued at $19,800,000 after purchasing an additional 58,660 shares during the period. Finally, Ranmore Fund Management Ltd acquired a new stake in Shinhan Financial Group during the 1st quarter valued at approximately $15,687,000. Institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Trading Down 0.9%

Shares of SHG stock traded down $0.44 during trading hours on Tuesday, hitting $46.79. 181,589 shares of the company were exchanged, compared to its average volume of 123,522. The firm has a market cap of $22.72 billion, a P/E ratio of 4.69, a P/E/G ratio of 0.51 and a beta of 0.96. Shinhan Financial Group Co Ltd has a fifty-two week low of $28.76 and a fifty-two week high of $52.00. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50 day simple moving average of $48.43 and a two-hundred day simple moving average of $40.22.

Analyst Upgrades and Downgrades

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

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.