Shinhan Financial Group Co., Ltd. (NYSE:SHG) Position Boosted by Wellington Management Group LLP

Wellington Management Group LLP increased its holdings in Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 16.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,622 shares of the bank’s stock after buying an additional 15,993 shares during the quarter. Wellington Management Group LLP’s holdings in Shinhan Financial Group were worth $3,063,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SHG. Lazard Asset Management LLC grew its holdings in Shinhan Financial Group by 77.9% in the 2nd quarter. Lazard Asset Management LLC now owns 1,914,904 shares of the bank’s stock worth $49,902,000 after buying an additional 838,265 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Shinhan Financial Group by 91.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 650,458 shares of the bank’s stock worth $21,745,000 after buying an additional 310,419 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Shinhan Financial Group by 235.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 293,661 shares of the bank’s stock worth $2,166,000 after buying an additional 206,165 shares in the last quarter. Ramirez Asset Management Inc. bought a new position in Shinhan Financial Group in the 3rd quarter worth approximately $4,407,000. Finally, Rhumbline Advisers bought a new position in Shinhan Financial Group during the 2nd quarter valued at $4,037,000. 7.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on SHG. Bank of America raised Shinhan Financial Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 16th. StockNews.com raised Shinhan Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th.

Shinhan Financial Group Stock Performance

Shares of NYSE SHG opened at $35.39 on Thursday. The stock has a fifty day moving average price of $32.99 and a two-hundred day moving average price of $29.55. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.01 and a current ratio of 1.02. The firm has a market cap of $18.14 billion, a P/E ratio of 6.06, a PEG ratio of 0.71 and a beta of 0.90. Shinhan Financial Group Co., Ltd. has a 1 year low of $24.99 and a 1 year high of $38.65.

Shinhan Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Friday, January 1st were given a dividend of $0.3953 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.47%. Shinhan Financial Group’s dividend payout ratio (DPR) is presently 21.06%.

Shinhan Financial Group Company Profile

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Life Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.