Drive Wealth Management LLC Purchases New Holdings in Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Drive Wealth Management LLC purchased a new position in shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,137 shares of the bank’s stock, valued at approximately $218,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SHG. Lazard Asset Management LLC raised its holdings in shares of Shinhan Financial Group by 2.7% in the 1st quarter. Lazard Asset Management LLC now owns 1,298,302 shares of the bank’s stock valued at $46,075,000 after purchasing an additional 34,597 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of Shinhan Financial Group by 14.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 177,972 shares of the bank’s stock valued at $6,316,000 after buying an additional 22,536 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Shinhan Financial Group by 147.5% during the 1st quarter. Sei Investments Co. now owns 62,068 shares of the bank’s stock worth $2,203,000 after acquiring an additional 36,993 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Shinhan Financial Group by 75.0% during the 1st quarter. Clearbridge Investments LLC now owns 121,713 shares of the bank’s stock worth $4,320,000 after acquiring an additional 52,161 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Shinhan Financial Group by 90.6% in the 2nd quarter. Blue Trust Inc. now owns 24,850 shares of the bank’s stock valued at $882,000 after acquiring an additional 11,815 shares during the period. Institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Stock Down 0.1 %

Shares of SHG opened at $38.18 on Tuesday. The firm has a market cap of $19.45 billion, a P/E ratio of 5.99, a price-to-earnings-growth ratio of 0.62 and a beta of 0.93. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.04 and a current ratio of 1.04. Shinhan Financial Group Co., Ltd. has a 52 week low of $27.09 and a 52 week high of $46.05. The firm’s 50-day simple moving average is $41.17 and its 200 day simple moving average is $39.00.

Shinhan Financial Group (NYSE:SHG) last released its quarterly earnings results on Friday, October 25th. The bank reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.02. The business had revenue of $3.11 billion during the quarter. Shinhan Financial Group had a return on equity of 7.34% and a net margin of 12.21%. On average, analysts forecast that Shinhan Financial Group Co., Ltd. will post 6.32 earnings per share for the current year.

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.