Envestnet Asset Management Inc. Has $6.34 Million Stock Position in Shinhan Financial Group Co Ltd (NYSE:SHG)

Envestnet Asset Management Inc. grew its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 22.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 197,709 shares of the bank's stock after buying an additional 35,682 shares during the period. Envestnet Asset Management Inc.'s holdings in Shinhan Financial Group were worth $6,343,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SHG. Bessemer Group Inc. grew its holdings in Shinhan Financial Group by 14.7% in the first quarter. Bessemer Group Inc. now owns 4,077 shares of the bank's stock valued at $131,000 after purchasing an additional 522 shares during the period. Jane Street Group LLC purchased a new stake in shares of Shinhan Financial Group during the 4th quarter valued at $690,000. GAMMA Investing LLC grew its stake in shares of Shinhan Financial Group by 2,895.7% during the 1st quarter. GAMMA Investing LLC now owns 47,093 shares of the bank's stock valued at $1,468,000 after buying an additional 45,521 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Shinhan Financial Group by 19.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,976 shares of the bank's stock valued at $320,000 after buying an additional 1,655 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in Shinhan Financial Group by 45.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 27,201 shares of the bank's stock valued at $873,000 after acquiring an additional 8,507 shares during the period. 7.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Shinhan Financial Group Trading Up 1.1%

Shares of NYSE:SHG traded up $0.57 during trading on Friday, reaching $50.89. 174,448 shares of the stock were exchanged, compared to its average volume of 265,395. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.04 and a current ratio of 1.04. Shinhan Financial Group Co Ltd has a 12-month low of $28.76 and a 12-month high of $52.00. The firm has a market cap of $25.23 billion, a price-to-earnings ratio of 6.63, a price-to-earnings-growth ratio of 0.56 and a beta of 0.92. The firm's 50-day moving average price is $44.82 and its 200 day moving average price is $37.60.

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.