19,106 Shares in Shinhan Financial Group Co Ltd $SHG Bought by Strs Ohio

Key Points

• Strs Ohio has acquired a new stake in Shinhan Financial Group Co Ltd, purchasing 19,106 shares valued at approximately $613,000 in the first quarter.
• Several institutional investors, including Bessemer Group Inc. and Envestnet Asset Management Inc., have increased their positions in Shinhan Financial Group, showing growing interest in the bank's stock.
• Analysts at Wall Street Zen downgraded Shinhan Financial Group from a "buy" rating to a "hold" rating, indicating a more cautious outlook on the stock's performance.

Strs Ohio bought a new position in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,106 shares of the bank's stock, valued at approximately $613,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wayfinding Financial LLC purchased a new stake in Shinhan Financial Group in the first quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new stake in Shinhan Financial Group in the first quarter valued at approximately $28,000. Bessemer Group Inc. lifted its stake 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 buying an additional 522 shares during the last quarter. HB Wealth Management LLC purchased a new stake in Shinhan Financial Group in the first quarter valued at approximately $203,000. Finally, AQR Capital Management LLC purchased a new stake in Shinhan Financial Group in the first quarter valued at approximately $210,000. Hedge funds and other institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Stock Performance

Shares of Shinhan Financial Group stock traded down $0.03 during trading hours on Tuesday, hitting $49.88. 87,948 shares of the company were exchanged, compared to its average volume of 225,751. Shinhan Financial Group Co Ltd has a 1 year low of $28.76 and a 1 year high of $52.00. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.48. The business has a 50-day moving average of $48.89 and a 200-day moving average of $41.82. The stock has a market capitalization of $24.22 billion, a price-to-earnings ratio of 5.00, a P/E/G ratio of 0.53 and a beta of 0.96.

Analyst Ratings Changes

Separately, Wall Street Zen cut Shinhan Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th.

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.