Vontobel Asset Management Inc. raised its position in shares of Grupo Financiero Santander Mexico SAB de CV (NYSE:BSMX) by 307.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,091,090 shares of the company’s stock after buying an additional 21,195,116 shares during the period. Grupo Financiero Santander Mexico SAB de CV accounts for 2.0% of Vontobel Asset Management Inc.’s portfolio, making the stock its 20th largest position. Vontobel Asset Management Inc. owned 2.07% of Grupo Financiero Santander Mexico SAB de CV worth $250,470,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. DIAM Co. Ltd. purchased a new position in Grupo Financiero Santander Mexico SAB de CV during the second quarter valued at $122,000. Allianz Asset Management AG purchased a new position in shares of Grupo Financiero Santander Mexico SAB de CV during the second quarter valued at $123,000. Wetherby Asset Management Inc. boosted its position in shares of Grupo Financiero Santander Mexico SAB de CV by 2.1% in the second quarter. Wetherby Asset Management Inc. now owns 14,637 shares of the company’s stock valued at $133,000 after buying an additional 297 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Grupo Financiero Santander Mexico SAB de CV by 0.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,476 shares of the company’s stock valued at $159,000 after buying an additional 100 shares during the last quarter. Finally, Huntington National Bank boosted its position in shares of Grupo Financiero Santander Mexico SAB de CV by 20.6% in the second quarter. Huntington National Bank now owns 18,098 shares of the company’s stock valued at $165,000 after buying an additional 3,097 shares during the last quarter. 31.50% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Grupo Financiero Santander Mexico SAB de CV (NYSE:BSMX)

Grupo Financiero Santander Mexico SAB de CV (NYSE:BSMX) traded up 1.78% on Monday, reaching $7.42. The company’s stock had a trading volume of 1,149,044 shares. The firm has a 50-day moving average price of $8.68 and a 200 day moving average price of $9.02. Grupo Financiero Santander Mexico SAB de CV has a 52-week low of $6.76 and a 52-week high of $10.13. The firm has a market capitalization of $10.06 billion, a P/E ratio of 12.07 and a beta of 1.57.

Several brokerages have recently weighed in on BSMX. Zacks Investment Research raised shares of Grupo Financiero Santander Mexico SAB de CV from a “sell” rating to a “hold” rating in a research report on Friday, August 19th. JPMorgan Chase & Co. cut shares of Grupo Financiero Santander Mexico SAB de CV from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $9.50 to $10.00 in a research report on Thursday, August 4th. Finally, Goldman Sachs Group Inc. cut shares of Grupo Financiero Santander Mexico SAB de CV from a “neutral” rating to a “sell” rating and set a $8.10 price target on the stock. in a research report on Friday, September 23rd. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Grupo Financiero Santander Mexico SAB de CV presently has a consensus rating of “Hold” and a consensus target price of $9.03.

About Grupo Financiero Santander Mexico SAB de CV

Grupo Financiero Santander Mexico SAB de CV, formerly Santander Mexico Financial Group SAB de CV or Grupo Financiero Santander SAB de CV, is a Mexico-based financial institution. The Company is primarily engaged in the provision of multiple banking services, securities brokerage, financial advice services, as well as other related investment activities.

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