Quantinno Capital Management LP Boosts Stake in Shinhan Financial Group Co Ltd $SHG

Quantinno Capital Management LP grew its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 40.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 173,250 shares of the bank’s stock after buying an additional 49,966 shares during the period. Quantinno Capital Management LP’s holdings in Shinhan Financial Group were worth $10,624,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Royal Bank of Canada increased its position in Shinhan Financial Group by 9.1% during the 1st quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock worth $4,049,000 after purchasing an additional 10,534 shares in the last quarter. AQR Capital Management LLC purchased a new position in Shinhan Financial Group in the 1st quarter valued at about $210,000. Millennium Management LLC boosted its stake 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 during the last quarter. Goldman Sachs Group Inc. boosted its stake 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 purchasing an additional 118,548 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Shinhan Financial Group by 1,465.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after buying an additional 850 shares in the last quarter. 7.76% of the stock is owned by institutional investors and hedge funds.

Shinhan Financial Group Price Performance

Shares of Shinhan Financial Group stock opened at $71.18 on Tuesday. The stock has a market capitalization of $33.78 billion, a P/E ratio of 9.57, a PEG ratio of 0.53 and a beta of 0.94. Shinhan Financial Group Co Ltd has a twelve month low of $46.26 and a twelve month high of $73.80. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.43. The business’s fifty day moving average price is $67.60 and its 200 day moving average price is $65.13.

Shinhan Financial Group (NYSE:SHG) last released its quarterly earnings data on Tuesday, March 31st. The bank reported $1.98 earnings per share (EPS) for the quarter. Shinhan Financial Group had a net margin of 15.69% and a return on equity of 8.69%. As a group, research analysts anticipate that Shinhan Financial Group Co Ltd will post 8.53 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SHG. Weiss Ratings raised shares of Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Zacks Research raised shares of Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Shinhan Financial Group Company Profile

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.