Shinhan Financial Group Co., Ltd. (NYSE:SHG) Shares Purchased by Summit Global Investments

Summit Global Investments boosted its position in Shinhan Financial Group Co., Ltd. (NYSE:SHG - Free Report) by 79.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 121,081 shares of the bank's stock after purchasing an additional 53,545 shares during the quarter. Summit Global Investments' holdings in Shinhan Financial Group were worth $4,215,000 at the end of the most recent reporting period.

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A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brandes Investment Partners LP raised its position in shares of Shinhan Financial Group by 54.3% in the fourth quarter. Brandes Investment Partners LP now owns 483,643 shares of the bank's stock valued at $14,887,000 after buying an additional 170,135 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Shinhan Financial Group by 156.0% in the 1st quarter. Acadian Asset Management LLC now owns 274,784 shares of the bank's stock worth $9,749,000 after purchasing an additional 167,434 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Shinhan Financial Group by 75.0% during the 1st quarter. Clearbridge Investments LLC now owns 121,713 shares of the bank's stock worth $4,320,000 after purchasing an additional 52,161 shares during the last quarter. Sei Investments Co. grew its position in shares of Shinhan Financial Group by 147.5% in the first quarter. Sei Investments Co. now owns 62,068 shares of the bank's stock valued at $2,203,000 after purchasing an additional 36,993 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Shinhan Financial Group by 2.7% in the first quarter. Lazard Asset Management LLC now owns 1,298,302 shares of the bank's stock valued at $46,075,000 after purchasing an additional 34,597 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Shinhan Financial Group from a "buy" rating to a "hold" rating in a research note on Thursday, June 6th.

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Shinhan Financial Group Trading Up 1.2 %

Shinhan Financial Group stock traded up $0.51 during midday trading on Tuesday, hitting $43.76. 94,062 shares of the stock were exchanged, compared to its average volume of 124,692. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $22.29 billion, a price-to-earnings ratio of 7.21, a PEG ratio of 0.72 and a beta of 0.93. The stock's 50-day simple moving average is $38.10 and its 200 day simple moving average is $35.32. Shinhan Financial Group Co., Ltd. has a fifty-two week low of $25.09 and a fifty-two week high of $43.93.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last released its quarterly earnings data on Friday, July 26th. The bank reported $1.97 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.19. The firm had revenue of $3.25 billion for the quarter. Shinhan Financial Group had a return on equity of 7.23% and a net margin of 12.76%. On average, equities analysts anticipate that Shinhan Financial Group Co., Ltd. will post 6.22 EPS for the current year.

Shinhan Financial Group Company Profile

(Free Report)

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.

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