Squarepoint Ops LLC Cuts Position in Shinhan Financial Group Co Ltd $SHG

Squarepoint Ops LLC lowered its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 57.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,244 shares of the bank’s stock after selling 20,438 shares during the period. Squarepoint Ops LLC’s holdings in Shinhan Financial Group were worth $689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its stake in shares of Shinhan Financial Group by 3.9% during the 1st quarter. Northern Trust Corp now owns 1,501,208 shares of the bank’s stock worth $48,159,000 after acquiring an additional 56,088 shares in the last quarter. Lazard Asset Management LLC increased its stake in Shinhan Financial Group by 2.8% in the 2nd quarter. Lazard Asset Management LLC now owns 1,497,967 shares of the bank’s stock valued at $67,677,000 after purchasing an additional 40,448 shares in the last quarter. American Century Companies Inc. raised its holdings in Shinhan Financial Group by 16.5% during the second quarter. American Century Companies Inc. now owns 979,011 shares of the bank’s stock worth $44,232,000 after purchasing an additional 138,779 shares during the last quarter. Millennium Management LLC boosted its position in Shinhan Financial Group by 152.0% during the first quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock worth $18,689,000 after purchasing an additional 351,413 shares in the last quarter. Finally, Ranmore Fund Management Ltd grew its holdings in Shinhan Financial Group by 8.2% in the second quarter. Ranmore Fund Management Ltd now owns 529,000 shares of the bank’s stock valued at $23,900,000 after purchasing an additional 40,000 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHG has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Monday. Wall Street Zen cut shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Zacks Research downgraded shares of Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 2nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Shinhan Financial Group Price Performance

NYSE:SHG opened at $52.59 on Wednesday. Shinhan Financial Group Co Ltd has a 12-month low of $28.76 and a 12-month high of $56.13. The firm has a market cap of $25.53 billion, a price-to-earnings ratio of 5.12, a price-to-earnings-growth ratio of 0.59 and a beta of 1.01. The company’s 50-day moving average is $53.16 and its two-hundred day moving average is $49.89. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.51.

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

Shinhan Financial Group Company Profile

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company’s principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.