PDS Planning Inc Boosts Stake in Shinhan Financial Group Co Ltd $SHG

PDS Planning Inc boosted its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 4.1% in the second quarter, Holdings Channel reports. The institutional investor owned 14,232 shares of the bank’s stock after acquiring an additional 561 shares during the period. PDS Planning Inc’s holdings in Shinhan Financial Group were worth $643,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in Shinhan Financial Group by 5.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,321 shares of the bank’s stock worth $274,000 after buying an additional 442 shares during the period. Bessemer Group Inc. lifted its holdings in Shinhan Financial Group by 14.7% during the first quarter. Bessemer Group Inc. now owns 4,077 shares of the bank’s stock worth $131,000 after buying an additional 522 shares during the period. Invesco Ltd. lifted its holdings in Shinhan Financial Group by 1.7% during the first quarter. Invesco Ltd. now owns 39,492 shares of the bank’s stock worth $1,267,000 after buying an additional 649 shares during the period. Bank of New York Mellon Corp lifted its holdings in Shinhan Financial Group by 8.2% during the first quarter. Bank of New York Mellon Corp now owns 8,994 shares of the bank’s stock worth $289,000 after buying an additional 682 shares during the period. Finally, M&T Bank Corp lifted its holdings in shares of Shinhan Financial Group by 12.5% during the 1st quarter. M&T Bank Corp now owns 7,026 shares of the bank’s stock valued at $225,000 after purchasing an additional 781 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company’s stock.

Wall Street Analysts Forecast Growth

SHG has been the subject of several analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Shinhan Financial Group in a report on Wednesday. Zacks Research lowered Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Finally, Wall Street Zen lowered Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Stock Performance

Shares of SHG stock opened at $49.32 on Friday. The firm has a market capitalization of $23.94 billion, a price-to-earnings ratio of 4.94, a price-to-earnings-growth ratio of 0.53 and a beta of 0.94. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average of $49.08 and a 200 day moving average of $43.48. Shinhan Financial Group Co Ltd has a 1 year low of $28.76 and a 1 year high of $52.00.

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.