Blue Trust Inc. Raises Position in Shinhan Financial Group Co Ltd $SHG

Blue Trust Inc. raised its stake in Shinhan Financial Group Co Ltd (NYSE:SHG) by 21.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 25,242 shares of the bank’s stock after purchasing an additional 4,481 shares during the quarter. Blue Trust Inc.’s holdings in Shinhan Financial Group were worth $1,140,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ranmore Fund Management Ltd purchased a new position in shares of Shinhan Financial Group in the first quarter worth $15,687,000. Millennium Management LLC boosted its holdings 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 purchasing an additional 351,413 shares during the period. Causeway Capital Management LLC boosted its holdings in shares of Shinhan Financial Group by 56.6% during the first quarter. Causeway Capital Management LLC now owns 509,806 shares of the bank’s stock worth $16,355,000 after purchasing an additional 184,167 shares during the period. Goldman Sachs Group Inc. boosted 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 worth $10,376,000 after purchasing an additional 118,548 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position 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 valued at $19,800,000 after purchasing an additional 58,660 shares during the last quarter. Institutional investors own 7.76% of the company’s stock.

Analyst Upgrades and Downgrades

SHG has been the topic of several research analyst reports. Wall Street Zen cut Shinhan Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Zacks Research cut shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Shinhan Financial Group in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Stock Performance

Shares of SHG stock opened at $49.32 on Friday. The company’s 50-day moving average is $49.08 and its 200 day moving average is $43.41. The company has a market capitalization of $23.94 billion, a price-to-earnings ratio of 4.94, a price-to-earnings-growth ratio of 0.55 and a beta of 0.94. Shinhan Financial Group Co Ltd has a one year low of $28.76 and a one year high of $52.00. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.03 and a current ratio of 1.03.

Shinhan Financial Group 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, 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.