Vident Advisory LLC Has $3.06 Million Stock Position in Shinhan Financial Group Co Ltd $SHG

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 boosted its stake in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 8.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. increased 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 acquired a new stake in Shinhan Financial Group in the fourth quarter valued at $690,000. Envestnet Asset Management Inc. increased its holdings in Shinhan Financial Group by 22.0% in the first quarter. Envestnet Asset Management Inc. now owns 197,709 shares of the bank's stock valued at $6,343,000 after purchasing an additional 35,682 shares during the period. HB Wealth Management LLC acquired a new stake in Shinhan Financial Group in the first quarter valued at $203,000. Finally, Ramirez Asset Management Inc. increased its holdings in Shinhan Financial Group by 11.2% in the first quarter. Ramirez Asset Management Inc. now owns 215,892 shares of the bank's stock valued at $6,926,000 after purchasing an additional 21,727 shares during the period. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Shinhan Financial Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th.

Shinhan Financial Group Trading Down 0.2%

NYSE SHG traded down $0.11 during trading hours on Friday, hitting $46.79. 211,270 shares of the company's stock were exchanged, compared to its average volume of 128,303. The stock has a 50-day simple moving average of $48.60 and a 200 day simple moving average of $40.45. Shinhan Financial Group Co Ltd has a 1-year low of $28.76 and a 1-year high of $52.00. The firm has a market cap of $22.72 billion, a price-to-earnings ratio of 4.69, a PEG ratio of 0.50 and a beta of 0.96. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.48.

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.