Acadian Asset Management LLC Sells 52,592 Shares of Shinhan Financial Group Co Ltd $SHG

Key Points

• Acadian Asset Management LLC reduced its stake in Shinhan Financial Group by 25.2%, selling 52,592 shares and holding 155,778 shares worth nearly $5 million after the sale.
• Multiple hedge funds and institutional investors have modified their positions in Shinhan Financial Group, with Bessemer Group Inc. increasing its stake by 14.7%.
• Shinhan Financial Group's stock rating was downgraded from a "buy" to a "hold" by Wall Street Zen as analysts forecast growth challenges ahead.

Acadian Asset Management LLC lowered its holdings in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,778 shares of the bank's stock after selling 52,592 shares during the period. Acadian Asset Management LLC's holdings in Shinhan Financial Group were worth $4,996,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new position in Shinhan Financial Group during the first quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new position in Shinhan Financial Group during the first quarter valued at approximately $28,000. Bessemer Group Inc. grew its stake in Shinhan Financial Group by 14.7% during the first quarter. Bessemer Group Inc. now owns 4,077 shares of the bank's stock valued at $131,000 after acquiring an additional 522 shares in the last quarter. HB Wealth Management LLC purchased a new position in Shinhan Financial Group during the first quarter valued at approximately $203,000. Finally, AQR Capital Management LLC purchased a new position in Shinhan Financial Group during the first quarter valued at approximately $210,000. Institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Trading Up 1.0%

NYSE:SHG opened at $49.35 on Friday. The company has a fifty day moving average of $48.85 and a 200 day moving average of $41.01. Shinhan Financial Group Co Ltd has a 52 week low of $28.76 and a 52 week high of $52.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $23.96 billion, a P/E ratio of 4.94, a P/E/G ratio of 0.53 and a beta of 0.96.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Shinhan Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th.

Shinhan Financial Group Company 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.

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