Virtus Family Office LLC Invests $4.51 Million in Shinhan Financial Group Co Ltd $SHG

Virtus Family Office LLC acquired a new stake in Shinhan Financial Group Co Ltd (NYSE:SHG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 89,470 shares of the bank’s stock, valued at approximately $4,507,000. Shinhan Financial Group makes up 4.2% of Virtus Family Office LLC’s investment portfolio, making the stock its 10th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in SHG. Corient Private Wealth LLC increased its holdings in Shinhan Financial Group by 1.1% during the 2nd quarter. Corient Private Wealth LLC now owns 20,076 shares of the bank’s stock valued at $907,000 after acquiring an additional 213 shares in the last quarter. Savant Capital LLC raised 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 worth $313,000 after purchasing an additional 213 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Shinhan Financial Group by 1.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 27,509 shares of the bank’s stock valued at $1,243,000 after buying an additional 308 shares in the last quarter. Groupama Asset Managment grew its holdings in Shinhan Financial Group by 1.9% during the 2nd quarter. Groupama Asset Managment now owns 17,525 shares of the bank’s stock valued at $777,000 after buying an additional 330 shares during the last quarter. Finally, Gitterman Wealth Management LLC increased its position in Shinhan Financial Group by 9.0% during the third quarter. Gitterman Wealth Management LLC now owns 4,181 shares of the bank’s stock worth $211,000 after buying an additional 346 shares in the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

Shinhan Financial Group Trading Up 5.0%

NYSE:SHG traded up $3.10 during trading hours on Friday, reaching $64.89. 15,865 shares of the company were exchanged, compared to its average volume of 233,233. Shinhan Financial Group Co Ltd has a 52-week low of $28.76 and a 52-week high of $65.55. The stock has a 50 day simple moving average of $55.10 and a 200 day simple moving average of $52.04. The firm has a market cap of $31.50 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 0.64 and a beta of 1.00. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.03 and a quick ratio of 1.03.

Shinhan Financial Group (NYSE:SHG) last issued its earnings results on Friday, November 14th. The bank reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.08. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Shinhan Financial Group had a return on equity of 12.45% and a net margin of 22.38%. As a group, analysts predict that Shinhan Financial Group Co Ltd will post 5.97 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on SHG shares. Zacks Research upgraded Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Shinhan Financial Group has an average rating of “Moderate Buy”.

About Shinhan Financial Group

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.