American Century Companies Inc. Buys 54,204 Shares of 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. lifted its holdings in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 840,232 shares of the bank's stock after acquiring an additional 54,204 shares during the period. American Century Companies Inc. owned approximately 0.17% of Shinhan Financial Group worth $26,955,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SHG. Northern Trust Corp grew its stake in shares of 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 acquiring an additional 1,031,257 shares in the last quarter. Ranmore Fund Management Ltd acquired a new stake in Shinhan Financial Group during the first quarter worth about $15,687,000. Millennium Management LLC acquired a new stake in Shinhan Financial Group during the fourth quarter worth about $7,600,000. D. E. Shaw & Co. Inc. acquired a new stake in Shinhan Financial Group during the fourth quarter worth about $5,830,000. Finally, Voloridge Investment Management LLC acquired a new stake in Shinhan Financial Group during the fourth quarter worth about $2,991,000. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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 Price Performance

Shares of SHG stock traded up $0.12 on Wednesday, reaching $47.35. The company had a trading volume of 75,118 shares, compared to its average volume of 226,291. The stock has a market capitalization of $22.99 billion, a PE ratio of 4.74, a price-to-earnings-growth ratio of 0.51 and a beta of 0.93. 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 one year low of $28.76 and a one year high of $52.00. The business's 50-day moving average is $48.04 and its 200 day moving average is $39.76.

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.