Shinhan Financial Group Co Ltd $SHG Stake Raised by Ranmore Fund Management Ltd

Ranmore Fund Management Ltd grew its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 8.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 529,000 shares of the bank’s stock after buying an additional 40,000 shares during the period. Shinhan Financial Group accounts for 9.5% of Ranmore Fund Management Ltd’s investment portfolio, making the stock its biggest position. Ranmore Fund Management Ltd owned approximately 0.11% of Shinhan Financial Group worth $23,900,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. acquired a new position in Shinhan Financial Group in the 1st quarter valued at about $28,000. Westside Investment Management Inc. purchased a new stake in shares of Shinhan Financial Group during the second quarter worth about $47,000. Farther Finance Advisors LLC raised its position in shares of Shinhan Financial Group by 240.7% in the second quarter. Farther Finance Advisors LLC now owns 1,908 shares of the bank’s stock valued at $86,000 after buying an additional 1,348 shares during the last quarter. GAMMA Investing LLC boosted its position in Shinhan Financial Group by 124.9% during the second quarter. GAMMA Investing LLC now owns 3,301 shares of the bank’s stock worth $149,000 after acquiring an additional 1,833 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Shinhan Financial Group in the 2nd quarter valued at $177,000. Hedge funds and other institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Stock Down 1.8%

SHG opened at $53.69 on Wednesday. Shinhan Financial Group Co Ltd has a 1 year low of $28.76 and a 1 year high of $55.44. The firm has a 50 day moving average price of $50.65 and a 200 day moving average price of $46.71. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $26.07 billion, a PE ratio of 5.38, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SHG. Wall Street Zen downgraded 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 report on Wednesday, September 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Thursday, October 30th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Shinhan Financial Group currently has a consensus rating of “Moderate Buy”.

About Shinhan Financial Group

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.