Bessemer Group Inc. Boosts Stake in Shinhan Financial Group Co Ltd $SHG

Bessemer Group Inc. lifted its stake in Shinhan Financial Group Co Ltd (NYSE:SHG) by 34.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,473 shares of the bank’s stock after purchasing an additional 1,396 shares during the period. Bessemer Group Inc.’s holdings in Shinhan Financial Group were worth $247,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wayfinding Financial LLC purchased a new stake in Shinhan Financial Group in the 1st quarter worth $25,000. Cullen Frost Bankers Inc. purchased a new stake in Shinhan Financial Group in the 1st quarter worth $28,000. Farther Finance Advisors LLC grew its position in shares of Shinhan Financial Group by 240.7% during the second quarter. Farther Finance Advisors LLC now owns 1,908 shares of the bank’s stock worth $86,000 after purchasing an additional 1,348 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Shinhan Financial Group by 124.9% during the second quarter. GAMMA Investing LLC now owns 3,301 shares of the bank’s stock worth $149,000 after purchasing an additional 1,833 shares in the last quarter. Finally, Foster Group Inc. purchased a new stake in shares of Shinhan Financial Group during the second quarter worth about $201,000. 7.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SHG. Wall Street Zen cut Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Zacks Research cut Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Thursday, October 30th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Shinhan Financial Group has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Trading Up 1.4%

Shares of Shinhan Financial Group stock opened at $52.42 on Tuesday. The firm has a market cap of $25.45 billion, a price-to-earnings ratio of 5.25, a PEG ratio of 0.56 and a beta of 0.94. The business has a 50-day moving average price of $49.87 and a 200-day moving average price of $45.88. 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 Co Ltd has a twelve month low of $28.76 and a twelve month high of $53.42.

About Shinhan Financial Group

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.