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

Virtus Family Office LLC purchased a new stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 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.

Other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in shares of Shinhan Financial Group by 152.0% during the first quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock worth $18,689,000 after acquiring an additional 351,413 shares during the last quarter. American Century Companies Inc. boosted its holdings in Shinhan Financial Group by 16.5% in the second quarter. American Century Companies Inc. now owns 979,011 shares of the bank’s stock valued at $44,232,000 after purchasing an additional 138,779 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Shinhan Financial Group by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock worth $10,376,000 after purchasing an additional 118,548 shares during the last quarter. Creative Planning raised its position in shares of Shinhan Financial Group by 70.3% in the 2nd quarter. Creative Planning now owns 162,873 shares of the bank’s stock valued at $7,359,000 after purchasing an additional 67,223 shares in the last quarter. Finally, Orion Porfolio Solutions LLC boosted its stake in shares of Shinhan Financial Group by 73.0% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 104,396 shares of the bank’s stock valued at $4,717,000 after buying an additional 44,053 shares during the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Monday, December 29th. Zacks Research upgraded Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Stock Performance

NYSE SHG traded up $3.10 during trading hours on Friday, reaching $64.89. The company’s stock had a trading volume of 15,865 shares, compared to its average volume of 233,233. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.51. The business has a 50-day simple moving average of $55.10 and a 200 day simple moving average of $52.04. 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 market cap of $31.50 billion, a PE ratio of 6.34, a PEG ratio of 0.64 and a beta of 1.00.

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

Shinhan Financial Group Company Profile

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.