Elevation Point Wealth Partners LLC Invests $458,000 in Shinhan Financial Group Co Ltd $SHG

Elevation Point Wealth Partners LLC acquired a new position in Shinhan Financial Group Co Ltd (NYSE:SHG) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 7,464 shares of the bank’s stock, valued at approximately $458,000.

A number of other institutional investors also recently bought and sold shares of SHG. Bell Investment Advisors Inc grew its stake in shares of Shinhan Financial Group by 31.3% during the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock valued at $46,000 after purchasing an additional 178 shares during the period. Allworth Financial LP grew its position in Shinhan Financial Group by 12.5% during the fourth quarter. Allworth Financial LP now owns 1,703 shares of the bank’s stock valued at $91,000 after buying an additional 189 shares during the period. Bridgewater Advisors Inc. increased its holdings in Shinhan Financial Group by 2.2% during the fourth quarter. Bridgewater Advisors Inc. now owns 9,438 shares of the bank’s stock valued at $541,000 after buying an additional 199 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in Shinhan Financial Group by 71.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock worth $26,000 after acquiring an additional 200 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of Shinhan Financial Group by 6.3% during the 4th quarter. Assetmark Inc. now owns 3,492 shares of the bank’s stock worth $187,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Price Performance

NYSE:SHG opened at $71.83 on Thursday. The business’s 50-day simple moving average is $65.73 and its two-hundred day simple moving average is $62.95. Shinhan Financial Group Co Ltd has a 52 week low of $46.26 and a 52 week high of $73.40. The stock has a market cap of $34.10 billion, a PE ratio of 7.80, a P/E/G ratio of 0.63 and a beta of 0.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.43.

Shinhan Financial Group (NYSE:SHG) last released its earnings results on Tuesday, March 31st. The bank reported $1.98 earnings per share (EPS) for the quarter. Shinhan Financial Group had a return on equity of 10.97% and a net margin of 20.07%. As a group, analysts forecast that Shinhan Financial Group Co Ltd will post 7.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SHG shares. Zacks Research lowered Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings upgraded Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.