NewEdge Wealth LLC Buys 10,050 Shares of Shinhan Financial Group Co Ltd $SHG

NewEdge Wealth LLC grew its stake in Shinhan Financial Group Co Ltd (NYSE:SHG) by 10.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,659 shares of the bank’s stock after buying an additional 10,050 shares during the period. NewEdge Wealth LLC’s holdings in Shinhan Financial Group were worth $6,295,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in SHG. Brown Brothers Harriman & Co. lifted its holdings in shares of Shinhan Financial Group by 71.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Shinhan Financial Group during the fourth quarter valued at about $38,000. Northwestern Mutual Wealth Management Co. raised its position 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 purchasing an additional 850 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted 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 worth $44,000 after purchasing an additional 811 shares during the last quarter. Finally, Bell Investment Advisors Inc lifted its stake in Shinhan Financial Group by 31.3% during the first quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock worth $46,000 after purchasing an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Price Performance

Shares of NYSE:SHG opened at $71.56 on Friday. The stock has a market cap of $33.96 billion, a PE ratio of 7.77, a PEG ratio of 0.56 and a beta of 0.94. The company’s fifty day moving average is $66.68 and its 200 day moving average is $64.32. Shinhan Financial Group Co Ltd has a 52 week low of $46.26 and a 52 week high of $73.80. 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 posted its quarterly earnings results on Friday, July 24th. The bank reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.17. Shinhan Financial Group had a net margin of 20.07% and a return on equity of 10.97%. Research analysts anticipate that Shinhan Financial Group Co Ltd will post 8.02 earnings per share for the current year.

Analysts Set New Price Targets

SHG has been the topic of several recent research reports. Weiss Ratings upgraded Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Zacks Research downgraded Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate 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.