NewEdge Wealth LLC Has $4.72 Million Stock Holdings in Shinhan Financial Group Co Ltd $SHG

NewEdge Wealth LLC grew its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 16.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,192 shares of the bank’s stock after purchasing an additional 12,918 shares during the period. NewEdge Wealth LLC’s holdings in Shinhan Financial Group were worth $4,721,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. lifted its stake in shares of Shinhan Financial Group by 16.5% in the second quarter. American Century Companies Inc. now owns 979,011 shares of the bank’s stock valued at $44,232,000 after buying an additional 138,779 shares in the last quarter. Virtus Family Office LLC bought a new stake in shares of Shinhan Financial Group during the third quarter worth about $4,507,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Shinhan Financial Group in the 2nd quarter worth about $1,138,000. Creative Planning lifted its position in Shinhan Financial Group by 70.3% in the 2nd quarter. Creative Planning now owns 162,873 shares of the bank’s stock valued at $7,359,000 after acquiring an additional 67,223 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Shinhan Financial Group by 10.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 217,835 shares of the bank’s stock valued at $9,842,000 after purchasing an additional 20,126 shares during the last quarter. Institutional investors own 7.76% of the company’s stock.

Wall Street Analyst Weigh In

SHG has been the topic of a number of recent research reports. Zacks Research upgraded Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Shinhan Financial Group Stock Performance

Shares of Shinhan Financial Group stock opened at $71.61 on Friday. The business’s fifty day simple moving average is $58.29 and its 200 day simple moving average is $53.53. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.51. Shinhan Financial Group Co Ltd has a 12 month low of $28.76 and a 12 month high of $73.40. The firm has a market capitalization of $34.76 billion, a P/E ratio of 6.97, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00.

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.