Two Sigma Advisers LP purchased a new stake in shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,000 shares of the bank's stock, valued at approximately $296,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Sierra Ocean LLC bought a new position in Shinhan Financial Group in the 4th quarter valued at $43,000. Tower Research Capital LLC TRC boosted its holdings in shares of Shinhan Financial Group by 1,884.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank's stock worth $95,000 after buying an additional 2,751 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Shinhan Financial Group in the 4th quarter worth about $125,000. Sterling Capital Management LLC grew its position in Shinhan Financial Group by 8.1% during the fourth quarter. Sterling Capital Management LLC now owns 5,564 shares of the bank's stock valued at $183,000 after buying an additional 415 shares during the period. Finally, M&T Bank Corp increased its holdings in Shinhan Financial Group by 11.7% during the fourth quarter. M&T Bank Corp now owns 6,245 shares of the bank's stock worth $205,000 after buying an additional 655 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded shares of Shinhan Financial Group from a "hold" rating to a "buy" rating in a research note on Monday, May 19th.
View Our Latest Stock Analysis on SHG
Shinhan Financial Group Stock Performance
Shares of NYSE:SHG traded down $0.07 during mid-day trading on Tuesday, reaching $44.21. The company had a trading volume of 155,130 shares, compared to its average volume of 184,113. The company's 50-day moving average price is $36.54 and its 200-day moving average price is $35.00. Shinhan Financial Group Co., Ltd. has a one year low of $28.76 and a one year high of $46.05. The firm has a market cap of $21.92 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 0.44 and a beta of 0.90. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.53.
Shinhan Financial Group Company Profile
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Free Report)
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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