Russell Investments Group Ltd. trimmed its position in shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG – Free Report) by 71.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,550 shares of the bank’s stock after selling 26,237 shares during the period. Russell Investments Group Ltd.’s holdings in Shinhan Financial Group were worth $284,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Wealth LLC purchased a new stake in shares of Shinhan Financial Group during the first quarter worth about $444,000. PDS Planning Inc grew its position in shares of Shinhan Financial Group by 58.8% during the first quarter. PDS Planning Inc now owns 12,394 shares of the bank’s stock worth $334,000 after purchasing an additional 4,588 shares in the last quarter. CWM LLC grew its position in shares of Shinhan Financial Group by 30.1% during the first quarter. CWM LLC now owns 2,211 shares of the bank’s stock worth $60,000 after purchasing an additional 511 shares in the last quarter. Ballentine Partners LLC grew its position in shares of Shinhan Financial Group by 8.3% during the first quarter. Ballentine Partners LLC now owns 9,736 shares of the bank’s stock worth $262,000 after purchasing an additional 747 shares in the last quarter. Finally, Caprock Group LLC boosted its position in shares of Shinhan Financial Group by 14.9% during the first quarter. Caprock Group LLC now owns 14,644 shares of the bank’s stock worth $403,000 after acquiring an additional 1,895 shares during the last quarter. 2.81% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently commented on SHG. Morgan Stanley downgraded Shinhan Financial Group from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, May 16th. StockNews.com cut shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th.
Shinhan Financial Group Stock Performance
Shinhan Financial Group stock opened at $27.04 on Tuesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.02 and a quick ratio of 1.02. Shinhan Financial Group Co., Ltd. has a 1-year low of $22.98 and a 1-year high of $36.64. The firm has a market capitalization of $14.02 billion, a P/E ratio of 4.26, a price-to-earnings-growth ratio of 1.23 and a beta of 0.84. The company’s 50-day moving average is $26.57 and its 200 day moving average is $26.88.
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, 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.
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