Abacus Wealth Partners LLC Takes $1.03 Million Position in Shinhan Financial Group Co Ltd $SHG

Abacus Wealth Partners LLC bought a new stake in Shinhan Financial Group Co Ltd (NYSE:SHG) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 19,183 shares of the bank’s stock, valued at approximately $1,029,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP lifted its position in shares of Shinhan Financial Group by 12.5% during the 4th quarter. Allworth Financial LP now owns 1,703 shares of the bank’s stock valued at $91,000 after acquiring an additional 189 shares during the period. Bridgewater Advisors Inc. lifted its position in shares of Shinhan Financial Group by 2.2% during the 4th quarter. Bridgewater Advisors Inc. now owns 9,438 shares of the bank’s stock valued at $541,000 after acquiring an additional 199 shares during the period. Assetmark Inc. lifted its position in shares of Shinhan Financial Group by 6.3% during the 4th quarter. Assetmark Inc. now owns 3,492 shares of the bank’s stock valued at $187,000 after acquiring an additional 207 shares during the period. Savant Capital LLC lifted its position in shares of Shinhan Financial Group by 3.5% during the 3rd quarter. Savant Capital LLC now owns 6,221 shares of the bank’s stock valued at $313,000 after acquiring an additional 213 shares during the period. Finally, Natural Investments LLC lifted its position in shares of Shinhan Financial Group by 0.8% during the 4th quarter. Natural Investments LLC now owns 28,874 shares of the bank’s stock valued at $1,548,000 after acquiring an additional 216 shares during the period. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Shinhan Financial Group Price Performance

Shares of NYSE:SHG opened at $64.21 on Friday. The company has a market cap of $30.48 billion, a price-to-earnings ratio of 6.97, a PEG ratio of 0.50 and a beta of 0.97. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $64.18 and a 200 day simple moving average of $59.70. Shinhan Financial Group Co Ltd has a one year low of $37.13 and a one year high of $73.40.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings data on Tuesday, March 31st. The bank reported $1.98 EPS for the quarter. Shinhan Financial Group had a net margin of 19.89% and a return on equity of 10.87%. Research analysts predict that Shinhan Financial Group Co Ltd will post 7.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Zacks Research cut Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings cut Shinhan Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, April 27th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Shinhan Financial Group presently 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.