Shinhan Financial Group Co Ltd $SHG Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 20.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,056 shares of the bank’s stock after acquiring an additional 2,080 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Shinhan Financial Group were worth $558,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SHG. Ranmore Fund Management Ltd acquired a new stake in shares of Shinhan Financial Group during the 1st quarter valued at approximately $15,687,000. Millennium Management LLC raised its position in shares of Shinhan Financial Group by 152.0% during the 1st quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock worth $18,689,000 after purchasing an additional 351,413 shares during the last quarter. Causeway Capital Management LLC raised its position in shares of Shinhan Financial Group by 56.6% during the 1st quarter. Causeway Capital Management LLC now owns 509,806 shares of the bank’s stock worth $16,355,000 after purchasing an additional 184,167 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Shinhan Financial Group by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock worth $10,376,000 after purchasing an additional 118,548 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Shinhan Financial Group by 10.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 617,210 shares of the bank’s stock worth $19,800,000 after purchasing an additional 58,660 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SHG has been the subject of several research reports. Wall Street Zen downgraded Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Shinhan Financial Group in a research report on Saturday, September 27th. Finally, Zacks Research downgraded Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Shinhan Financial Group has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Stock Up 0.8%

Shares of NYSE SHG opened at $50.64 on Friday. Shinhan Financial Group Co Ltd has a 52-week low of $28.76 and a 52-week high of $52.00. The firm has a fifty day moving average of $48.88 and a 200-day moving average of $42.87. The stock has a market capitalization of $24.59 billion, a PE ratio of 5.07, a P/E/G ratio of 0.55 and a beta of 0.94. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.48.

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, 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.