Public Employees Retirement System of Ohio Cuts Stake in Shinhan Financial Group Co Ltd $SHG

Public Employees Retirement System of Ohio reduced its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,389 shares of the bank’s stock after selling 5,771 shares during the period. Public Employees Retirement System of Ohio’s holdings in Shinhan Financial Group were worth $2,728,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wayfinding Financial LLC purchased a new position in shares of Shinhan Financial Group during the 1st quarter worth about $25,000. Cullen Frost Bankers Inc. acquired a new stake in Shinhan Financial Group during the 1st quarter worth approximately $28,000. Farther Finance Advisors LLC increased its position in Shinhan Financial Group by 240.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,908 shares of the bank’s stock worth $86,000 after purchasing an additional 1,348 shares in the last quarter. Bessemer Group Inc. increased its position in Shinhan Financial Group by 14.7% during the 1st quarter. Bessemer Group Inc. now owns 4,077 shares of the bank’s stock worth $131,000 after purchasing an additional 522 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Shinhan Financial Group by 124.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,301 shares of the bank’s stock worth $149,000 after purchasing an additional 1,833 shares in the last quarter. 7.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SHG shares. Zacks Research downgraded shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Wall Street Zen downgraded shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Shinhan Financial Group Stock Performance

Shinhan Financial Group stock opened at $50.53 on Thursday. The stock has a market cap of $24.53 billion, a P/E ratio of 5.06, a price-to-earnings-growth ratio of 0.54 and a beta of 0.94. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.48. The stock has a 50 day moving average of $48.88 and a 200-day moving average of $42.55. Shinhan Financial Group Co Ltd has a 52 week low of $28.76 and a 52 week high of $52.00.

Shinhan Financial Group Company 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.