Ethic Inc. Has $1.32 Million Holdings in Shinhan Financial Group Co Ltd $SHG

Ethic Inc. lessened its holdings in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 48.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,839 shares of the bank’s stock after selling 27,657 shares during the period. Ethic Inc.’s holdings in Shinhan Financial Group were worth $1,322,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SHG. Ranmore Fund Management Ltd acquired a new position in shares of Shinhan Financial Group during the 1st quarter worth approximately $15,687,000. Millennium Management LLC grew its position 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 in the last quarter. Causeway Capital Management LLC boosted its position in shares of Shinhan Financial Group by 56.6% during the 1st quarter. Causeway Capital Management LLC now owns 509,806 shares of the bank’s stock worth $16,355,000 after acquiring an additional 184,167 shares in the last quarter. Goldman Sachs Group Inc. boosted its position 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 worth $10,376,000 after acquiring an additional 118,548 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Shinhan Financial Group by 10.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 617,210 shares of the bank’s stock worth $19,800,000 after acquiring an additional 58,660 shares in the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on SHG shares. Wall Street Zen lowered shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Zacks Research lowered shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Shinhan Financial Group in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Shinhan Financial Group Price Performance

Shares of NYSE:SHG opened at $51.58 on Monday. The company has a market cap of $25.04 billion, a price-to-earnings ratio of 5.17, a PEG ratio of 0.56 and a beta of 0.94. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $49.40 and a 200 day simple moving average of $44.96. Shinhan Financial Group Co Ltd has a one year low of $28.76 and a one year high of $53.42.

Shinhan Financial Group 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.