Massachusetts Financial Services Co. MA Acquires Shares of 7,319 Shinhan Financial Group Co Ltd $SHG

Massachusetts Financial Services Co. MA acquired a new stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,319 shares of the bank’s stock, valued at approximately $393,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Shinhan Financial Group by 1,465.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock valued at $41,000 after buying an additional 850 shares in the last quarter. TD Private Client Wealth LLC acquired a new stake in shares of Shinhan Financial Group in the third quarter valued at $42,000. Osaic Holdings Inc. increased its stake in shares of Shinhan Financial Group by 387.3% in the second quarter. Osaic Holdings Inc. now owns 1,306 shares of the bank’s stock valued at $59,000 after buying an additional 1,038 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Shinhan Financial Group by 3,831.3% in the third quarter. Smartleaf Asset Management LLC now owns 1,887 shares of the bank’s stock valued at $95,000 after buying an additional 1,839 shares in the last quarter. Finally, Westside Investment Management Inc. increased its stake in shares of Shinhan Financial Group by 100.0% in the third quarter. Westside Investment Management Inc. now owns 2,062 shares of the bank’s stock valued at $104,000 after buying an additional 1,031 shares in the last quarter. 7.76% of the stock is owned by institutional investors.

Shinhan Financial Group Stock Up 2.6%

Shares of NYSE:SHG opened at $69.08 on Friday. Shinhan Financial Group Co Ltd has a one year low of $33.62 and a one year high of $73.40. The company has a 50 day moving average of $64.73 and a 200-day moving average of $57.72. 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 stock has a market cap of $32.79 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 0.54 and a beta of 0.96.

Wall Street Analysts Forecast Growth

SHG has been the subject of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Friday, March 27th. Zacks Research upgraded Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Shinhan Financial Group Company 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.