Aberdeen Group plc Reduces Holdings in Shinhan Financial Group Co Ltd $SHG

Aberdeen Group plc reduced its stake in Shinhan Financial Group Co Ltd (NYSE:SHG) by 66.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,561 shares of the bank’s stock after selling 21,244 shares during the quarter. Aberdeen Group plc’s holdings in Shinhan Financial Group were worth $531,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SHG. Lazard Asset Management LLC grew its position in Shinhan Financial Group by 2.8% during the 2nd quarter. Lazard Asset Management LLC now owns 1,497,967 shares of the bank’s stock worth $67,677,000 after purchasing an additional 40,448 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Shinhan Financial Group by 16.5% in the second quarter. American Century Companies Inc. now owns 979,011 shares of the bank’s stock worth $44,232,000 after buying an additional 138,779 shares during the last quarter. Millennium Management LLC lifted its stake in shares of 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 buying an additional 351,413 shares during the period. Ranmore Fund Management Ltd lifted its stake in shares of Shinhan Financial Group by 8.2% during the second quarter. Ranmore Fund Management Ltd now owns 529,000 shares of the bank’s stock worth $23,900,000 after buying an additional 40,000 shares during the period. Finally, Brandes Investment Partners LP grew its holdings in shares of Shinhan Financial Group by 6.6% during the second quarter. Brandes Investment Partners LP now owns 528,135 shares of the bank’s stock valued at $23,862,000 after buying an additional 32,608 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Monday, December 29th. Zacks Research raised Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Stock Performance

NYSE SHG opened at $71.61 on Monday. The stock has a market capitalization of $34.76 billion, a price-to-earnings ratio of 6.97, a PEG ratio of 0.58 and a beta of 1.00. The stock has a 50-day moving average of $58.29 and a 200 day moving average of $53.59. 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 Co Ltd has a twelve month low of $28.76 and a twelve month high of $73.40.

About Shinhan Financial Group

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.