Arrowstreet Capital Limited Partnership Sells 20,017 Shares of Shinhan Financial Group Co Ltd $SHG

Arrowstreet Capital Limited Partnership cut its holdings in Shinhan Financial Group Co Ltd (NYSE:SHG) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,112,045 shares of the bank’s stock after selling 20,017 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.23% of Shinhan Financial Group worth $50,242,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SHG. Northwestern Mutual Wealth Management Co. boosted its stake in Shinhan Financial Group by 1,465.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after acquiring an additional 850 shares in the last quarter. Westside Investment Management Inc. bought a new position in shares of Shinhan Financial Group during the second quarter valued at approximately $47,000. Farther Finance Advisors LLC lifted its holdings in shares of Shinhan Financial Group by 240.7% during the second quarter. Farther Finance Advisors LLC now owns 1,908 shares of the bank’s stock valued at $86,000 after purchasing an additional 1,348 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Shinhan Financial Group by 124.9% in 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. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Shinhan Financial Group in the 2nd quarter worth approximately $177,000. 7.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SHG. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Shinhan Financial Group in a research report on Monday. Zacks Research cut Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Wall Street Zen downgraded Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold”.

Shinhan Financial Group Trading Down 2.7%

Shares of NYSE:SHG opened at $53.76 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.03 and a quick ratio of 1.03. Shinhan Financial Group Co Ltd has a 1 year low of $28.76 and a 1 year high of $56.13. The company has a market cap of $26.10 billion, a P/E ratio of 5.23, a PEG ratio of 0.61 and a beta of 1.01. The stock’s fifty day moving average price is $52.41 and its 200-day moving average price is $48.64.

Shinhan Financial Group (NYSE:SHG) last released its quarterly earnings data on Friday, November 14th. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $1.97 by $0.08. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $3.79 billion. Shinhan Financial Group had a return on equity of 12.45% and a net margin of 22.38%. Sell-side analysts expect that Shinhan Financial Group Co Ltd will post 5.97 earnings per share for the current year.

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.