Banque Pictet & Cie SA Acquires New Shares in Shinhan Financial Group Co Ltd $SHG

Banque Pictet & Cie SA purchased a new position in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,645 shares of the bank’s stock, valued at approximately $464,000.

Several other institutional investors have also bought and sold shares of the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Shinhan Financial Group during the 4th quarter valued at $334,000. Frank Rimerman Advisors LLC raised its position in Shinhan Financial Group by 96.0% during the fourth quarter. Frank Rimerman Advisors LLC now owns 24,212 shares of the bank’s stock valued at $1,298,000 after buying an additional 11,858 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Shinhan Financial Group by 20.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,688 shares of the bank’s stock valued at $814,000 after purchasing an additional 2,531 shares during the period. Tuttle Capital Management LLC acquired a new stake in Shinhan Financial Group during the fourth quarter valued at $326,000. Finally, Park Avenue Securities LLC boosted its holdings in Shinhan Financial Group by 9.8% in the fourth quarter. Park Avenue Securities LLC now owns 5,284 shares of the bank’s stock worth $283,000 after purchasing an additional 470 shares in the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

Shinhan Financial Group Stock Up 0.1%

SHG stock opened at $62.25 on Friday. Shinhan Financial Group Co Ltd has a fifty-two week low of $28.76 and a fifty-two week high of $73.40. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.00 and a quick ratio of 1.03. The business has a 50-day moving average of $63.47 and a 200-day moving average of $56.50. The stock has a market capitalization of $29.55 billion, a P/E ratio of 6.91, a P/E/G ratio of 0.50 and a beta of 0.96.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Friday, March 27th. Zacks Research upgraded Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Strong Buy”.

Shinhan Financial Group Profile

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.