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

Gabelli Funds LLC increased its position in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 28.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,276 shares of the bank’s stock after buying 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 reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in shares of Shinhan Financial Group by 9.1% in the first quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock worth $4,049,000 after acquiring an additional 10,534 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Shinhan Financial Group during the 1st quarter valued at approximately $210,000. Millennium Management LLC increased its holdings in Shinhan Financial Group by 152.0% during the 1st quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock worth $18,689,000 after purchasing an additional 351,413 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Shinhan Financial Group by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock worth $10,376,000 after purchasing an additional 118,548 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Shinhan Financial Group by 1,465.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after purchasing an additional 850 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.

Shinhan Financial Group Price Performance

Shares of NYSE SHG opened at $69.88 on Wednesday. Shinhan Financial Group Co Ltd has a twelve month low of $46.26 and a twelve month high of $73.80. 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 company has a market capitalization of $33.17 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 0.54 and a beta of 0.94. The business has a 50 day simple moving average of $67.11 and a 200-day simple moving average of $64.65.

Shinhan Financial Group (NYSE:SHG) last announced 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%. As a group, equities research analysts expect that Shinhan Financial Group Co Ltd will post 8.53 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Zacks Research upgraded Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

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.