Y Intercept Hong Kong Ltd Invests $1.14 Million in Shinhan Financial Group Co Ltd $SHG

Y Intercept Hong Kong Ltd purchased a new position in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 25,197 shares of the bank’s stock, valued at approximately $1,138,000.

Several other hedge funds also recently modified their holdings of the business. Bessemer Group Inc. increased its stake in shares of Shinhan Financial Group by 34.2% during the 2nd quarter. Bessemer Group Inc. now owns 5,473 shares of the bank’s stock worth $247,000 after purchasing an additional 1,396 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Shinhan Financial Group by 10.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 217,835 shares of the bank’s stock worth $9,842,000 after buying an additional 20,126 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Shinhan Financial Group by 1.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 27,509 shares of the bank’s stock worth $1,243,000 after buying an additional 308 shares during the period. Bleakley Financial Group LLC boosted its holdings in shares of Shinhan Financial Group by 12.8% during the 2nd quarter. Bleakley Financial Group LLC now owns 15,061 shares of the bank’s stock worth $680,000 after buying an additional 1,710 shares during the period. Finally, Drive Wealth Management LLC bought a new stake in shares of Shinhan Financial Group during the 2nd quarter worth $201,000. Institutional investors and hedge funds own 7.76% of the company’s stock.

Shinhan Financial Group Price Performance

Shares of Shinhan Financial Group stock opened at $52.42 on Tuesday. 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 fifty-two week low of $28.76 and a fifty-two week high of $53.42. The firm has a fifty day moving average price of $49.87 and a two-hundred day moving average price of $45.88. The company has a market cap of $25.45 billion, a PE ratio of 5.25, a price-to-earnings-growth ratio of 0.56 and a beta of 0.94.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SHG. Zacks Research downgraded shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a report on Thursday, October 30th. Finally, Wall Street Zen downgraded shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One equities research 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, the stock has a consensus rating of “Moderate Buy”.

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.