Strs Ohio Acquires Shares of 19,106 Shinhan Financial Group Co Ltd $SHG

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 stake in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,106 shares of the bank's stock, valued at approximately $613,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in shares of Shinhan Financial Group in the 1st quarter worth about $25,000. Cullen Frost Bankers Inc. bought a new stake in Shinhan Financial Group in the first quarter worth 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 period. HB Wealth Management LLC bought a new position in shares of Shinhan Financial Group during the 1st quarter worth approximately $203,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Shinhan Financial Group during the 1st quarter worth approximately $210,000. Institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Stock Up 0.6%

SHG stock traded up $0.28 during mid-day trading on Monday, reaching $49.92. 160,246 shares of the company traded hands, compared to its average volume of 226,595. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.48. The firm's 50 day moving average price is $48.92 and its 200 day moving average price is $41.69. The stock has a market cap of $24.24 billion, a price-to-earnings ratio of 5.00, a P/E/G ratio of 0.53 and a beta of 0.96. Shinhan Financial Group Co Ltd has a fifty-two week low of $28.76 and a fifty-two week high of $52.00.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of 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.