Shinhan Financial Group Co Ltd $SHG Shares Acquired by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its stake in Shinhan Financial Group by 8.1% in the first quarter, owning 95,393 shares valued at approximately $3.06 million.
• Shinhan Financial Group's stock has a market capitalization of $22.92 billion, with a recent share price of $47.21 and a P/E ratio of 4.73.
• Wall Street Zen downgraded shares of Shinhan Financial Group from a "buy" rating to a "hold" rating, reflecting shifting analyst sentiment.

Vident Advisory LLC grew its stake in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 8.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,393 shares of the bank's stock after purchasing an additional 7,144 shares during the period. Vident Advisory LLC's holdings in Shinhan Financial Group were worth $3,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its holdings in Shinhan Financial Group by 4.3% in the 4th quarter. Ameriprise Financial Inc. now owns 8,575 shares of the bank's stock valued at $282,000 after buying an additional 351 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of 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 valued at $274,000 after purchasing an additional 442 shares during the period. Bessemer Group Inc. increased its position in Shinhan Financial Group by 14.7% during 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 last quarter. Invesco Ltd. raised its stake in Shinhan Financial Group by 1.7% during 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. Finally, Bank of New York Mellon Corp boosted its holdings in Shinhan Financial Group by 8.2% in the 1st quarter. Bank of New York Mellon Corp now owns 8,994 shares of the bank's stock valued at $289,000 after purchasing an additional 682 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Trading Down 1.7%

NYSE SHG opened at $47.21 on Monday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $22.92 billion, a P/E ratio of 4.73, a PEG ratio of 0.51 and a beta of 0.96. The firm's 50-day moving average is $48.31 and its two-hundred day moving average is $40.08. Shinhan Financial Group Co Ltd has a 12 month low of $28.76 and a 12 month high of $52.00.

Analysts Set New Price Targets

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

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.

Want to see what other hedge funds are holding SHG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.