Advisors Preferred LLC Invests $527,000 in Shinhan Financial Group Co Ltd $SHG

Advisors Preferred LLC purchased a new position in Shinhan Financial Group Co Ltd (NYSE:SHG) during the third quarter, HoldingsChannel reports. The fund purchased 10,441 shares of the bank’s stock, valued at approximately $527,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in Shinhan Financial Group by 1,465.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after purchasing an additional 850 shares in the last quarter. TD Private Client Wealth LLC purchased a new stake in shares of Shinhan Financial Group in the 3rd quarter worth about $42,000. Westside Investment Management Inc. acquired a new stake in Shinhan Financial Group in the 2nd quarter valued at about $47,000. Osaic Holdings Inc. grew its stake in Shinhan Financial Group by 387.3% in the 2nd quarter. Osaic Holdings Inc. now owns 1,306 shares of the bank’s stock valued at $59,000 after acquiring an additional 1,038 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Shinhan Financial Group by 3,831.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,887 shares of the bank’s stock valued at $95,000 after acquiring an additional 1,839 shares in the last quarter. 7.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SHG. Zacks Research raised shares of Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Shinhan Financial Group has an average rating of “Moderate Buy”.

Shinhan Financial Group Stock Performance

NYSE:SHG opened at $71.61 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $34.76 billion, a PE ratio of 6.97, a P/E/G ratio of 0.58 and a beta of 1.00. The firm has a 50 day simple moving average of $58.29 and a 200-day simple moving average of $53.56. Shinhan Financial Group Co Ltd has a 1-year low of $28.76 and a 1-year high of $73.40.

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.