Trexquant Investment LP Grows Stock Holdings in Shinhan Financial Group Co Ltd $SHG

Key Points

• Trexquant Investment LP significantly increased its position in Shinhan Financial Group by 149.4%, acquiring an additional 42,740 shares, bringing its total holdings to 71,354 shares worth $2,289,000.
• Other hedge funds, including Bessemer Group Inc. and Envestnet Asset Management Inc., also raised their stakes in Shinhan Financial Group, showcasing growing institutional interest in the stock.
• Shinhan Financial Group's stock has a market capitalization of $23.18 billion and recently faced a downgrade from a "buy" to a "hold" rating by Wall Street Zen.

Trexquant Investment LP raised its position in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 149.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 71,354 shares of the bank's stock after buying an additional 42,740 shares during the quarter. Trexquant Investment LP's holdings in Shinhan Financial Group were worth $2,289,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bessemer Group Inc. lifted its position in shares of Shinhan Financial Group by 14.7% during 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. Jane Street Group LLC purchased a new stake in shares of Shinhan Financial Group during the fourth quarter valued at about $690,000. Envestnet Asset Management Inc. lifted its position in shares of Shinhan Financial Group by 22.0% during the first quarter. Envestnet Asset Management Inc. now owns 197,709 shares of the bank's stock valued at $6,343,000 after buying an additional 35,682 shares during the last quarter. HB Wealth Management LLC purchased a new stake in shares of Shinhan Financial Group during the first quarter valued at about $203,000. Finally, Ramirez Asset Management Inc. lifted its position in shares of Shinhan Financial Group by 11.2% during the first quarter. Ramirez Asset Management Inc. now owns 215,892 shares of the bank's stock valued at $6,926,000 after buying an additional 21,727 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.

Shinhan Financial Group Stock Performance

Shares of Shinhan Financial Group stock opened at $47.74 on Thursday. The firm has a market capitalization of $23.18 billion, a P/E ratio of 4.78, a PEG ratio of 0.51 and a beta of 0.96. 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 company has a 50 day moving average price of $48.50 and a 200 day moving average price of $40.27. Shinhan Financial Group Co Ltd has a 52 week low of $28.76 and a 52 week high of $52.00.

Analyst Upgrades and Downgrades

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

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.

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