Shinhan Financial Group Co Ltd $SHG Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Shinhan Financial Group by 2.8%, now owning approximately 259,193 shares valued at $8.31 million.
• Multiple other investors, including Wayfinding Financial and Itau Unibanco Holding, have started or increased their stakes in Shinhan Financial Group recently.
• Analysts upgraded Shinhan Financial Group from a "hold" rating to a "buy" rating, indicating positive market sentiment towards the company's potential.

Wellington Management Group LLP decreased its holdings in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 259,193 shares of the bank's stock after selling 7,403 shares during the quarter. Wellington Management Group LLP owned 0.05% of Shinhan Financial Group worth $8,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in shares of Shinhan Financial Group in the first quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new position in Shinhan Financial Group in the first quarter worth approximately $28,000. Tower Research Capital LLC TRC lifted its stake in Shinhan Financial Group by 1,884.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank's stock worth $95,000 after acquiring an additional 2,751 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Shinhan Financial Group in the fourth quarter worth approximately $125,000. Finally, 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 worth $131,000 after acquiring an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Stock Down 1.7%

SHG stock traded down $0.84 during midday trading on Friday, reaching $47.21. 194,475 shares of the company were exchanged, compared to its average volume of 132,368. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.03 and a current ratio of 1.03. Shinhan Financial Group Co Ltd has a 1-year low of $28.76 and a 1-year high of $52.00. The stock's 50-day simple moving average is $48.31 and its 200 day simple moving average is $40.04. The company has a market cap of $22.92 billion, a price-to-earnings ratio of 4.73, a price-to-earnings-growth ratio of 0.51 and a beta of 0.96.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Shinhan Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday.

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.