Shinhan Financial Group (NYSE:SHG) Stock Crosses Above 200 Day Moving Average – What’s Next?

Shares of Shinhan Financial Group Co Ltd (NYSE:SHG) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $54.47 and traded as high as $64.04. Shinhan Financial Group shares last traded at $63.78, with a volume of 359,446 shares.

Analyst Ratings Changes

Several research firms have recently commented on SHG. Zacks Research upgraded shares of Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Shinhan Financial Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Price Performance

The firm has a market capitalization of $30.96 billion, a PE ratio of 6.21, a P/E/G ratio of 0.52 and a beta of 0.97. The firm’s fifty day moving average price is $60.44 and its 200 day moving average price is $54.47. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.51.

Institutional Trading of Shinhan Financial Group

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its position in Shinhan Financial Group by 9.1% during the first quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock valued at $4,049,000 after acquiring an additional 10,534 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Shinhan Financial Group during the 1st quarter worth approximately $210,000. Millennium Management LLC grew its stake in shares of Shinhan Financial Group by 152.0% during the 1st 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 during the period. Goldman Sachs Group Inc. increased its holdings in shares of Shinhan Financial Group by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock valued at $10,376,000 after purchasing an additional 118,548 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Shinhan Financial Group by 10.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 217,835 shares of the bank’s stock valued at $9,842,000 after purchasing an additional 20,126 shares during the period. Hedge funds and other institutional investors own 7.76% of the company’s stock.

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.