Ritholtz Wealth Management Boosts Holdings in Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Ritholtz Wealth Management increased its holdings in shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 28.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,773 shares of the bank’s stock after buying an additional 14,025 shares during the period. Ritholtz Wealth Management’s holdings in Shinhan Financial Group were worth $1,932,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Financial Management Professionals Inc. raised its stake in shares of Shinhan Financial Group by 2,900.0% in the third quarter. Financial Management Professionals Inc. now owns 1,050 shares of the bank’s stock valued at $28,000 after acquiring an additional 1,015 shares in the last quarter. Paradigm Asset Management Co. LLC acquired a new position in shares of Shinhan Financial Group in the third quarter worth $40,000. Janiczek Wealth Management LLC lifted its holdings in Shinhan Financial Group by 46.7% in the 3rd quarter. Janiczek Wealth Management LLC now owns 1,601 shares of the bank’s stock valued at $42,000 after purchasing an additional 510 shares in the last quarter. Allworth Financial LP boosted its position in Shinhan Financial Group by 51.6% during the third quarter. Allworth Financial LP now owns 1,628 shares of the bank’s stock worth $43,000 after acquiring an additional 554 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC boosted its holdings in shares of Shinhan Financial Group by 339.4% during the third quarter. BNP Paribas Arbitrage SNC now owns 2,039 shares of the bank’s stock worth $47,000 after purchasing an additional 1,575 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com raised Shinhan Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Bank of America upgraded Shinhan Financial Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 16th.

Shinhan Financial Group Stock Performance

Shares of Shinhan Financial Group stock traded up $0.10 on Thursday, reaching $35.49. 197,112 shares of the company were exchanged, compared to its average volume of 140,067. The firm has a market cap of $18.20 billion, a price-to-earnings ratio of 6.08, a P/E/G ratio of 0.68 and a beta of 0.90. The company’s 50-day moving average is $33.15 and its two-hundred day moving average is $29.59. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.01 and a current ratio of 1.02. Shinhan Financial Group Co., Ltd. has a 1-year low of $24.99 and a 1-year high of $38.65.

Shinhan Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Friday, January 1st were given a dividend of $0.3953 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.58 annualized dividend and a dividend yield of 4.46%. Shinhan Financial Group’s dividend payout ratio is currently 21.06%.

Shinhan Financial Group Company 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, Life 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.