Quantbot Technologies LP Takes $462,000 Position in Shinhan Financial Group Co Ltd $SHG

Key Points

• Quantbot Technologies LP has invested approximately $462,000 in Shinhan Financial Group by acquiring 14,391 shares of the bank's stock in the first quarter.
• Shinhan Financial Group stock recently received a rating upgrade from "hold" to "buy" by Wall Street Zen, indicating a positive outlook from analysts.
• The company has a market capitalization of $23.21 billion and has seen fluctuations in its stock price, with a twelve-month low of $28.76 and a high of $52.00.

Quantbot Technologies LP acquired a new position in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,391 shares of the bank's stock, valued at approximately $462,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northern Trust Corp grew its holdings in Shinhan Financial Group by 249.2% in the fourth quarter. Northern Trust Corp now owns 1,445,120 shares of the bank's stock valued at $47,516,000 after purchasing an additional 1,031,257 shares during the last quarter. Ranmore Fund Management Ltd purchased a new stake in shares of Shinhan Financial Group in the first quarter valued at $15,687,000. Millennium Management LLC purchased a new stake in shares of Shinhan Financial Group in the fourth quarter valued at $7,600,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of Shinhan Financial Group in the fourth quarter valued at $5,830,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Shinhan Financial Group in the fourth quarter valued at $2,991,000. Institutional investors and hedge funds own 7.76% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Shinhan Financial Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd.

Shinhan Financial Group Trading Up 1.2%

Shares of NYSE SHG traded up $0.59 during midday trading on Thursday, hitting $47.98. The stock had a trading volume of 95,560 shares, compared to its average volume of 140,025. The company has a market capitalization of $23.29 billion, a price-to-earnings ratio of 4.81, a PEG ratio of 0.51 and a beta of 0.93. Shinhan Financial Group Co Ltd has a 1-year low of $28.76 and a 1-year high of $52.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.48. The company has a fifty day moving average price of $48.23 and a 200 day moving average price of $39.91.

Shinhan Financial Group 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.