American Century Companies Inc. Has $26.96 Million Stock Holdings in Shinhan Financial Group Co Ltd $SHG

Key Points

• American Century Companies Inc. increased its stake in Shinhan Financial Group by 6.9%, acquiring an additional 54,204 shares, bringing its total ownership to 840,232 shares worth approximately $26.96 million.
• Other institutional investors, including Bessemer Group Inc. and Envestnet Asset Management Inc., also raised their holdings in Shinhan Financial Group during the first quarter.
• Analysts have upgraded Shinhan Financial Group's rating from "hold" to "buy," indicating improved market sentiment towards the company's stock.

American Century Companies Inc. boosted its holdings in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 6.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 840,232 shares of the bank's stock after purchasing an additional 54,204 shares during the period. American Century Companies Inc. owned about 0.17% of Shinhan Financial Group worth $26,955,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC raised its stake in shares of Shinhan Financial Group by 24.6% in the fourth quarter. LPL Financial LLC now owns 9,750 shares of the bank's stock valued at $321,000 after acquiring an additional 1,923 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Shinhan Financial Group in the fourth quarter valued at approximately $574,000. NewEdge Advisors LLC raised its stake in shares of Shinhan Financial Group by 15.0% in the fourth quarter. NewEdge Advisors LLC now owns 16,946 shares of the bank's stock valued at $557,000 after acquiring an additional 2,206 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Shinhan Financial Group in the fourth quarter valued at approximately $652,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Shinhan Financial Group by 1,884.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank's stock valued at $95,000 after acquiring an additional 2,751 shares during the last quarter. Institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Trading Up 1.0%

SHG stock traded up $0.46 during trading on Thursday, hitting $47.85. The company had a trading volume of 16,120 shares, compared to its average volume of 225,284. The firm has a 50-day moving average price of $48.13 and a 200-day moving average price of $39.81. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.48. Shinhan Financial Group Co Ltd has a 12 month low of $28.76 and a 12 month high of $52.00. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 4.79, a PEG ratio of 0.51 and a beta of 0.93.

Analyst Upgrades and Downgrades

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

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.