NewEdge Wealth LLC Has $1.88 Million Stake in Shinhan Financial Group Co., Ltd. (NYSE:SHG)

NewEdge Wealth LLC raised its position in Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 59.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 60,968 shares of the bank’s stock after purchasing an additional 22,677 shares during the period. NewEdge Wealth LLC’s holdings in Shinhan Financial Group were worth $1,877,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Shinhan Financial Group by 7.4% in the 3rd quarter. BlackRock Inc. now owns 1,936,519 shares of the bank’s stock worth $44,541,000 after purchasing an additional 134,260 shares during the period. Lazard Asset Management LLC lifted its position in shares of Shinhan Financial Group by 77.9% during the 2nd quarter. Lazard Asset Management LLC now owns 1,914,904 shares of the bank’s stock valued at $49,902,000 after acquiring an additional 838,265 shares during the period. Morgan Stanley lifted its position in shares of Shinhan Financial Group by 8.0% during the 3rd quarter. Morgan Stanley now owns 1,792,258 shares of the bank’s stock valued at $47,477,000 after acquiring an additional 132,053 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Shinhan Financial Group by 1.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 723,124 shares of the bank’s stock valued at $20,197,000 after acquiring an additional 8,166 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Shinhan Financial Group by 0.4% during the 1st quarter. Bank of America Corp DE now owns 561,698 shares of the bank’s stock valued at $18,778,000 after acquiring an additional 2,462 shares during the period. Institutional investors and hedge funds own 7.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SHG shares. StockNews.com upgraded shares of Shinhan Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Bank of America upgraded shares of Shinhan Financial Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th.

Shinhan Financial Group Stock Down 5.7 %

Shinhan Financial Group stock opened at $30.00 on Monday. The company has a market capitalization of $15.28 billion, a PE ratio of 5.14, a PEG ratio of 0.61 and a beta of 0.91. The firm’s fifty day moving average is $33.88 and its 200 day moving average is $30.06. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 1.45. Shinhan Financial Group Co., Ltd. has a 12-month low of $24.99 and a 12-month high of $38.65.

Shinhan Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Friday, January 1st were paid a dividend of $0.3953 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.58 dividend on an annualized basis and a yield of 5.27%. Shinhan Financial Group’s dividend payout ratio (DPR) is presently 21.06%.

Shinhan Financial Group Company 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, Life 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.