Drive Wealth Management LLC Acquires New Position in Shinhan Financial Group Co Ltd $SHG

Drive Wealth Management LLC acquired a new stake in Shinhan Financial Group Co Ltd (NYSE:SHG) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 4,453 shares of the bank’s stock, valued at approximately $201,000.

Several other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in Shinhan Financial Group by 14.7% in the first quarter. Bessemer Group Inc. now owns 4,077 shares of the bank’s stock valued at $131,000 after purchasing an additional 522 shares in the last quarter. PDS Planning Inc increased its stake in Shinhan Financial Group by 4.1% in the second quarter. PDS Planning Inc now owns 14,232 shares of the bank’s stock valued at $643,000 after purchasing an additional 561 shares in the last quarter. Invesco Ltd. increased its stake in Shinhan Financial Group by 1.7% in the first quarter. Invesco Ltd. now owns 39,492 shares of the bank’s stock valued at $1,267,000 after purchasing an additional 649 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Shinhan Financial Group by 8.2% in the first quarter. Bank of New York Mellon Corp now owns 8,994 shares of the bank’s stock valued at $289,000 after purchasing an additional 682 shares in the last quarter. Finally, M&T Bank Corp increased its stake in Shinhan Financial Group by 12.5% in the first 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 in the last quarter. Institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Stock Down 1.5%

Shares of SHG stock opened at $52.14 on Wednesday. The firm has a fifty day moving average of $49.30 and a 200-day moving average of $44.40. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.48. Shinhan Financial Group Co Ltd has a 12-month low of $28.76 and a 12-month high of $53.42. The company has a market capitalization of $25.31 billion, a price-to-earnings ratio of 5.22, a P/E/G ratio of 0.57 and a beta of 0.94.

Analysts Set New Price Targets

Several brokerages have commented on SHG. Wall Street Zen downgraded shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Shinhan Financial Group in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Shinhan Financial Group has a consensus rating of “Moderate Buy”.

Shinhan Financial Group 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.