Bank of New York Mellon Corp bought a new stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,799 shares of the bank’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capstone Asset Management Co. increased its position in shares of Shinhan Financial Group Co by 3.8% in the first quarter. Capstone Asset Management Co. now owns 71,414 shares of the bank’s stock valued at $2,984,000 after buying an additional 2,630 shares during the period. Candriam Luxembourg S.C.A. bought a new position in shares of Shinhan Financial Group Co during the first quarter valued at $2,182,000. FMR LLC increased its position in shares of Shinhan Financial Group Co by 10.7% in the fourth quarter. FMR LLC now owns 30,811 shares of the bank’s stock valued at $1,160,000 after buying an additional 2,981 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Shinhan Financial Group Co during the fourth quarter valued at $262,000. Finally, Profund Advisors LLC increased its position in shares of Shinhan Financial Group Co by 24.8% in the first quarter. Profund Advisors LLC now owns 19,874 shares of the bank’s stock valued at $831,000 after buying an additional 3,952 shares during the period. Institutional investors own 2.35% of the company’s stock.

Shares of Shinhan Financial Group Co Ltd (NYSE:SHG) opened at 48.19 on Thursday. The stock has a 50 day moving average price of $45.19 and a 200 day moving average price of $43.05. The firm has a market capitalization of $22.98 billion, a PE ratio of 8.05 and a beta of 1.08. Shinhan Financial Group Co Ltd has a 12-month low of $35.13 and a 12-month high of $48.98.

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Separately, Zacks Investment Research upgraded Shinhan Financial Group Co from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Saturday, July 22nd.

Shinhan Financial Group Co Company Profile

Shinhan Financial Group Co, Ltd. (SFG) is a financial holding company. The Company operates through five segments: commercial banking services, which are provided by Shinhan Bank Co, Ltd. (Shinhan Bank); credit card services, which are provided by Shinhan Card Co, Ltd. (Shinhan Card); securities brokerage services, which are provided by Shinhan Investment Corp.

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Institutional Ownership by Quarter for Shinhan Financial Group Co (NYSE:SHG)

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