NewEdge Wealth LLC Has $4.72 Million Stake in Shinhan Financial Group Co Ltd $SHG

NewEdge Wealth LLC boosted its position in Shinhan Financial Group Co Ltd (NYSE:SHG) by 16.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,192 shares of the bank’s stock after purchasing an additional 12,918 shares during the period. NewEdge Wealth LLC’s holdings in Shinhan Financial Group were worth $4,721,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Shinhan Financial Group by 9.1% in the first quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock valued at $4,049,000 after buying an additional 10,534 shares during the period. AQR Capital Management LLC bought a new stake in Shinhan Financial Group during the 1st quarter worth approximately $210,000. Millennium Management LLC increased its position in Shinhan Financial Group by 152.0% in the 1st quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock valued at $18,689,000 after acquiring an additional 351,413 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Shinhan Financial Group by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock valued at $10,376,000 after acquiring an additional 118,548 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of Shinhan Financial Group by 12.8% during the second quarter. Bleakley Financial Group LLC now owns 15,061 shares of the bank’s stock valued at $680,000 after acquiring an additional 1,710 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on SHG shares. Zacks Research raised Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Shinhan Financial Group has an average rating of “Moderate Buy”.

Shinhan Financial Group Stock Up 2.9%

Shares of NYSE:SHG opened at $71.61 on Friday. Shinhan Financial Group Co Ltd has a 1 year low of $28.76 and a 1 year high of $73.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50-day moving average is $58.29 and its 200-day moving average is $53.53. The company has a market capitalization of $34.76 billion, a price-to-earnings ratio of 6.97, a P/E/G ratio of 0.56 and a beta of 1.00.

About Shinhan Financial Group

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company’s principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.