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 shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,193 shares of the bank's stock after selling 7,403 shares during the quarter. Wellington Management Group LLP owned about 0.05% of Shinhan Financial Group worth $8,315,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wayfinding Financial LLC purchased a new stake in shares of Shinhan Financial Group during the first quarter worth $25,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Shinhan Financial Group during the first quarter worth $28,000. Tower Research Capital LLC TRC grew its holdings in shares of Shinhan Financial Group by 1,884.2% during the fourth 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 in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Shinhan Financial Group during the fourth quarter worth $125,000. Finally, Bessemer Group Inc. grew its holdings 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 worth $131,000 after buying an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Trading Up 1.9%

Shares of SHG traded up $0.87 during mid-day trading on Wednesday, reaching $47.74. The stock had a trading volume of 144,312 shares, compared to its average volume of 123,522. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.03 and a quick ratio of 1.03. Shinhan Financial Group Co Ltd has a 52-week low of $28.76 and a 52-week high of $52.00. The business's fifty day moving average is $48.50 and its 200 day moving average is $40.27. The firm has a market cap of $23.18 billion, a price-to-earnings ratio of 4.78, a P/E/G ratio of 0.51 and a beta of 0.96.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Shinhan Financial Group from a "buy" rating to a "hold" rating in a report 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.