Gabelli Funds LLC Grows Stake in Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Gabelli Funds LLC grew its holdings in shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,600 shares of the bank’s stock after buying an additional 1,150 shares during the period. Gabelli Funds LLC’s holdings in Shinhan Financial Group were worth $1,065,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Caprock Group LLC lifted its holdings in Shinhan Financial Group by 2.1% in the second quarter. Caprock Group LLC now owns 13,785 shares of the bank’s stock worth $480,000 after buying an additional 286 shares during the period. Profund Advisors LLC lifted its stake in shares of Shinhan Financial Group by 3.5% in the 2nd quarter. Profund Advisors LLC now owns 9,537 shares of the bank’s stock valued at $332,000 after purchasing an additional 323 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Shinhan Financial Group by 6.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,224 shares of the bank’s stock valued at $251,000 after purchasing an additional 421 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Shinhan Financial Group by 2.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 19,063 shares of the bank’s stock valued at $587,000 after purchasing an additional 527 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Shinhan Financial Group by 1.5% in the first quarter. Signaturefd LLC now owns 36,655 shares of the bank’s stock worth $1,301,000 after purchasing an additional 545 shares during the period. Institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Trading Up 9.1 %

NYSE:SHG opened at $44.45 on Friday. The firm has a market capitalization of $22.64 billion, a P/E ratio of 7.32, a PEG ratio of 0.74 and a beta of 0.92. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.02 and a quick ratio of 1.02. Shinhan Financial Group Co., Ltd. has a one year low of $25.09 and a one year high of $46.05. The company’s 50-day simple moving average is $41.70 and its 200 day simple moving average is $37.08.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings results on Friday, July 26th. The bank reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.19. Shinhan Financial Group had a return on equity of 7.16% and a net margin of 12.23%. The firm had revenue of $3.25 billion for the quarter. As a group, analysts forecast that Shinhan Financial Group Co., Ltd. will post 6.22 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com lowered Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th.

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.