Sanders Capital LLC Sells 11,840 Shares of Shinhan Financial Group Co Ltd $SHG

Sanders Capital LLC lowered its stake in Shinhan Financial Group Co Ltd (NYSE:SHG) by 6.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 161,866 shares of the bank’s stock after selling 11,840 shares during the period. Sanders Capital LLC’s holdings in Shinhan Financial Group were worth $7,313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of Shinhan Financial Group by 8.2% during the first quarter. Bank of New York Mellon Corp now owns 8,994 shares of the bank’s stock valued at $289,000 after buying an additional 682 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Shinhan Financial Group by 22.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 197,709 shares of the bank’s stock worth $6,343,000 after acquiring an additional 35,682 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Shinhan Financial Group by 12.5% in the 1st quarter. M&T Bank Corp now owns 7,026 shares of the bank’s stock valued at $225,000 after purchasing an additional 781 shares during the period. Cerity Partners LLC boosted its position in shares of Shinhan Financial Group by 91.1% during the first quarter. Cerity Partners LLC now owns 53,954 shares of the bank’s stock valued at $1,731,000 after purchasing an additional 25,716 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in Shinhan Financial Group in the first quarter worth $28,000. 7.76% of the stock is owned by hedge funds and other institutional investors.

Shinhan Financial Group Stock Up 0.8%

Shinhan Financial Group stock opened at $54.83 on Friday. Shinhan Financial Group Co Ltd has a 12 month low of $28.76 and a 12 month high of $56.00. The stock has a fifty day simple moving average of $51.10 and a two-hundred day simple moving average of $47.04. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.48. The firm has a market cap of $26.62 billion, a price-to-earnings ratio of 5.49, a PEG ratio of 0.56 and a beta of 1.00.

Wall Street Analyst Weigh In

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