Profund Advisors LLC Acquires 2,250 Shares of Shinhan Financial Group Co Ltd $SHG

Profund Advisors LLC grew its stake in Shinhan Financial Group Co Ltd (NYSE:SHG) by 24.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,623 shares of the bank’s stock after buying an additional 2,250 shares during the period. Profund Advisors LLC’s holdings in Shinhan Financial Group were worth $525,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Ranmore Fund Management Ltd acquired a new stake in shares of Shinhan Financial Group during the 1st quarter worth approximately $15,687,000. Millennium Management LLC raised its stake in Shinhan Financial Group by 152.0% during the 1st quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock worth $18,689,000 after buying an additional 351,413 shares during the period. Causeway Capital Management LLC grew its position in Shinhan Financial Group by 56.6% in the 1st quarter. Causeway Capital Management LLC now owns 509,806 shares of the bank’s stock valued at $16,355,000 after purchasing an additional 184,167 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Shinhan Financial Group by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock valued at $10,376,000 after buying an additional 118,548 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Shinhan Financial Group by 10.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 617,210 shares of the bank’s stock worth $19,800,000 after purchasing an additional 58,660 shares in the last quarter. Institutional investors own 7.76% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SHG. Zacks Research lowered shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Thursday, October 30th. Finally, Wall Street Zen lowered Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Shinhan Financial Group Trading Up 2.1%

SHG opened at $54.83 on Thursday. Shinhan Financial Group Co Ltd has a one year low of $28.76 and a one year high of $55.68. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day simple moving average of $50.79 and a two-hundred day simple moving average of $46.76. The firm has a market capitalization of $26.62 billion, a price-to-earnings ratio of 5.49, a PEG ratio of 0.56 and a beta of 1.00.

About Shinhan Financial Group

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, 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.