Rhumbline Advisers Sells 7,544 Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Rhumbline Advisers lowered its stake in shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 10.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,255 shares of the bank’s stock after selling 7,544 shares during the period. Rhumbline Advisers’ holdings in Shinhan Financial Group were worth $2,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sierra Ocean LLC bought a new position in Shinhan Financial Group in the fourth quarter valued at approximately $43,000. Tower Research Capital LLC TRC lifted its position in shares of Shinhan Financial Group by 1,884.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank’s stock valued at $95,000 after acquiring an additional 2,751 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Shinhan Financial Group during the 4th quarter valued at $125,000. Sterling Capital Management LLC boosted its stake in Shinhan Financial Group by 8.1% in the fourth quarter. Sterling Capital Management LLC now owns 5,564 shares of the bank’s stock valued at $183,000 after buying an additional 415 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Shinhan Financial Group by 11.7% during the fourth quarter. M&T Bank Corp now owns 6,245 shares of the bank’s stock valued at $205,000 after purchasing an additional 655 shares in the last quarter. Institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Stock Up 2.6%

SHG stock opened at $44.52 on Tuesday. The stock’s fifty day simple moving average is $37.64 and its two-hundred day simple moving average is $35.08. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.53. Shinhan Financial Group Co., Ltd. has a 1-year low of $28.76 and a 1-year high of $46.05. The stock has a market cap of $22.07 billion, a P/E ratio of 6.99, a P/E/G ratio of 0.44 and a beta of 0.90.

Analyst Ratings Changes

Separately, Wall Street Zen raised Shinhan Financial Group from a “hold” rating to a “buy” rating in a research note on Monday, May 19th.

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.