Shinhan Financial Group Co Ltd $SHG Shares Acquired by Northern Trust Corp

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 grew its holdings in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,501,208 shares of the bank's stock after purchasing an additional 56,088 shares during the period. Northern Trust Corp owned about 0.30% of Shinhan Financial Group worth $48,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ameriprise Financial Inc. increased its stake in Shinhan Financial Group by 4.3% in the fourth quarter. Ameriprise Financial Inc. now owns 8,575 shares of the bank's stock worth $282,000 after purchasing an additional 351 shares during the period. Aquatic Capital Management LLC increased its stake in Shinhan Financial Group by 2.8% in the fourth quarter. Aquatic Capital Management LLC now owns 14,471 shares of the bank's stock worth $476,000 after purchasing an additional 392 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Shinhan Financial Group by 5.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,321 shares of the bank's stock worth $274,000 after purchasing an additional 442 shares during the period. Bessemer Group Inc. increased its stake in Shinhan Financial Group by 14.7% in the first quarter. Bessemer Group Inc. now owns 4,077 shares of the bank's stock worth $131,000 after purchasing an additional 522 shares during the period. Finally, Invesco Ltd. increased its stake in Shinhan Financial Group by 1.7% in the first quarter. Invesco Ltd. now owns 39,492 shares of the bank's stock worth $1,267,000 after purchasing an additional 649 shares during the period. Hedge funds and other institutional investors own 7.76% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Shinhan Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday.

Shinhan Financial Group Stock Down 1.7%

NYSE:SHG traded down $0.84 during midday trading on Friday, reaching $47.21. 194,475 shares of the stock traded hands, compared to its average volume of 135,635. The stock has a market capitalization of $22.92 billion, a PE ratio of 4.73, a price-to-earnings-growth ratio of 0.52 and a beta of 0.93. Shinhan Financial Group Co Ltd has a 12-month low of $28.76 and a 12-month 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 business has a 50-day moving average of $48.31 and a two-hundred day moving average of $40.00.

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.