Summit Global Investments Sells 60,276 Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Summit Global Investments trimmed its holdings in shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG - Free Report) by 49.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 60,805 shares of the bank's stock after selling 60,276 shares during the period. Summit Global Investments' holdings in Shinhan Financial Group were worth $2,576,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC boosted its stake in Shinhan Financial Group by 2.7% during the 1st 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. Pzena Investment Management LLC boosted its holdings in shares of Shinhan Financial Group by 27.9% during the 2nd quarter. Pzena Investment Management LLC now owns 1,082,552 shares of the bank's stock valued at $37,684,000 after acquiring an additional 236,236 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Shinhan Financial Group by 7.8% during the second quarter. American Century Companies Inc. now owns 646,749 shares of the bank's stock valued at $22,513,000 after purchasing an additional 46,720 shares during the last quarter. Acadian Asset Management LLC lifted its position in Shinhan Financial Group by 16.2% during the second quarter. Acadian Asset Management LLC now owns 319,186 shares of the bank's stock valued at $11,106,000 after purchasing an additional 44,402 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Shinhan Financial Group by 14.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 177,972 shares of the bank's stock worth $6,316,000 after buying an additional 22,536 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Stock Performance

Shares of Shinhan Financial Group stock traded down $0.72 during trading hours on Friday, reaching $40.57. 72,620 shares of the stock traded hands, compared to its average volume of 128,855. The company has a 50 day moving average price of $41.60 and a 200 day moving average price of $38.59. Shinhan Financial Group Co., Ltd. has a one year low of $26.24 and a one year high of $46.05. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $20.67 billion, a price-to-earnings ratio of 6.38, a P/E/G ratio of 0.65 and a beta of 0.93.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last released its earnings results on Friday, October 25th. The bank reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.02. The company had revenue of $3.11 billion for the quarter. Shinhan Financial Group had a return on equity of 7.24% and a net margin of 12.21%. On average, equities research analysts expect that Shinhan Financial Group Co., Ltd. will post 6.32 earnings per share for the current fiscal year.

Shinhan Financial Group Company Profile

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.