Shinhan Financial Group Co Ltd $SHG Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its stake in Shinhan Financial Group Co Ltd (NYSE:SHG) by 107.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,286 shares of the bank’s stock after purchasing an additional 17,759 shares during the quarter. First Trust Advisors LP’s holdings in Shinhan Financial Group were worth $2,102,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Brown Brothers Harriman & Co. grew its stake in Shinhan Financial Group by 71.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Shinhan Financial Group in the fourth quarter valued at about $38,000. Northwestern Mutual Wealth Management Co. raised its stake in Shinhan Financial Group by 1,465.5% during 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. Caitong International Asset Management Co. Ltd raised its stake in Shinhan Financial Group by 6,238.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock valued at $44,000 after buying an additional 811 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its holdings in Shinhan Financial Group by 31.3% during the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock worth $46,000 after buying an additional 178 shares during the last quarter. Institutional investors own 7.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings upgraded Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Strong Buy”.

Shinhan Financial Group Price Performance

Shares of NYSE:SHG opened at $75.91 on Friday. The company has a market cap of $36.03 billion, a PE ratio of 10.20, a P/E/G ratio of 0.57 and a beta of 0.94. Shinhan Financial Group Co Ltd has a fifty-two week low of $46.26 and a fifty-two week high of $77.54. The firm has a 50-day simple moving average of $68.40 and a 200 day simple moving average of $65.59. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.43.

Shinhan Financial Group (NYSE:SHG) last issued its earnings results on Tuesday, March 31st. The bank reported $1.98 earnings per share (EPS) for the quarter. Shinhan Financial Group had a net margin of 15.69% and a return on equity of 8.69%. On average, sell-side analysts anticipate that Shinhan Financial Group Co Ltd will post 8.53 EPS for the current year.

About Shinhan Financial Group

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.