Shinhan Financial Group Co Ltd $SHG Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC boosted its holdings in Shinhan Financial Group Co Ltd (NYSE:SHG) by 28.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,276 shares of the bank’s stock after acquiring an additional 12,300 shares during the period. Gabelli Funds LLC’s holdings in Shinhan Financial Group were worth $3,451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Compound Planning Inc. grew its holdings in shares of Shinhan Financial Group by 3.3% during the first quarter. Compound Planning Inc. now owns 16,820 shares of the bank’s stock valued at $1,031,000 after purchasing an additional 539 shares during the last quarter. NewEdge Wealth LLC lifted its holdings in shares of Shinhan Financial Group by 10.9% in the 1st quarter. NewEdge Wealth LLC now owns 102,659 shares of the bank’s stock worth $6,295,000 after purchasing an additional 10,050 shares during the last quarter. WealthCollab LLC lifted its holdings in shares of Shinhan Financial Group by 19.2% in the 1st quarter. WealthCollab LLC now owns 1,635 shares of the bank’s stock worth $100,000 after purchasing an additional 263 shares during the last quarter. First Trust Advisors LP boosted its position in Shinhan Financial Group by 107.5% during the 1st quarter. First Trust Advisors LP now owns 34,286 shares of the bank’s stock valued at $2,102,000 after purchasing an additional 17,759 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Shinhan Financial Group by 4.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 29,373 shares of the bank’s stock valued at $1,801,000 after purchasing an additional 1,379 shares during the period. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on SHG. Weiss Ratings upgraded Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Zacks Research upgraded Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Shinhan Financial Group Stock Performance

SHG opened at $69.88 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.43. The business’s 50 day moving average is $67.11 and its 200-day moving average is $64.65. The stock has a market cap of $33.17 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 0.54 and a beta of 0.94. Shinhan Financial Group Co Ltd has a twelve month low of $46.26 and a twelve month high of $73.80.

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

Shinhan Financial Group 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.