Maverick Capital Ltd. Has $1.46 Million Stake in Shinhan Financial Group Co Ltd $SHG

Maverick Capital Ltd. raised its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 69.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,804 shares of the bank’s stock after purchasing an additional 9,733 shares during the period. Maverick Capital Ltd.’s holdings in Shinhan Financial Group were worth $1,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHG. Lazard Asset Management LLC grew its position in shares of Shinhan Financial Group by 6.0% in the 4th quarter. Lazard Asset Management LLC now owns 1,671,184 shares of the bank’s stock valued at $89,626,000 after buying an additional 94,449 shares during the last quarter. Northern Trust Corp raised its position in shares of Shinhan Financial Group by 0.5% during the third quarter. Northern Trust Corp now owns 1,498,706 shares of the bank’s stock worth $75,490,000 after acquiring an additional 7,518 shares during the last quarter. Bank of America Corp DE raised its position in shares of Shinhan Financial Group by 0.5% during the third quarter. Bank of America Corp DE now owns 686,044 shares of the bank’s stock worth $34,556,000 after acquiring an additional 3,709 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Shinhan Financial Group by 152.0% in the first quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock worth $18,689,000 after acquiring an additional 351,413 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Shinhan Financial Group by 57.9% in the first 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 during the period. 7.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on SHG shares. Weiss Ratings upgraded Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Zacks Research lowered shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Shinhan Financial Group currently has an average rating of “Moderate Buy”.

Shinhan Financial Group Stock Performance

Shares of SHG opened at $71.58 on Tuesday. 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 stock has a market capitalization of $33.97 billion, a P/E ratio of 9.62, a price-to-earnings-growth ratio of 0.55 and a beta of 0.94. The firm’s fifty day simple moving average is $66.98 and its two-hundred day simple moving average is $64.54. Shinhan Financial Group Co Ltd has a 12 month low of $46.26 and a 12 month high of $73.80.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings results on Tuesday, March 31st. The bank reported $1.98 earnings per share for the quarter. Shinhan Financial Group had a return on equity of 8.69% and a net margin of 15.69%. As a group, analysts predict that Shinhan Financial Group Co Ltd will post 8.32 EPS for the current year.

About Shinhan Financial Group

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.