B. Metzler seel. Sohn & Co. AG Lowers Stock Holdings in Shinhan Financial Group Co Ltd $SHG

Key Points

• B. Metzler seel. Sohn & Co. AG cut its Shinhan Financial Group stake by 18.8% in the second quarter, selling 13,123 shares and retaining 56,664 shares valued at approximately $3.58 million.
• Shinhan reported quarterly earnings of $2.26 per share on $2.96 billion in revenue, with a 15.69% net margin and 8.63% return on equity. Analysts expect full-year EPS of $8.53.
• Despite the stock’s 2.7% decline, analyst sentiment remains positive: Zacks upgraded SHG to “strong buy,” and the stock carries an overall “Strong Buy” consensus rating.

B. Metzler seel. Sohn & Co. AG reduced its position in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 18.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,664 shares of the bank's stock after selling 13,123 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Shinhan Financial Group were worth $3,584,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Brown Brothers Harriman & Co. increased its holdings in shares of Shinhan Financial Group by 71.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank's stock worth $26,000 after purchasing an additional 200 shares during the period. Kestra Advisory Services LLC purchased a new position in Shinhan Financial Group during the fourth quarter worth about $38,000. Northwestern Mutual Wealth Management Co. grew its position in 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. Caitong International Asset Management Co. Ltd increased its stake in Shinhan Financial Group by 6,238.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank's stock worth $44,000 after acquiring an additional 811 shares during the last quarter. Finally, Bell Investment Advisors Inc increased its stake in Shinhan Financial Group by 31.3% in the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank's stock worth $46,000 after acquiring an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Stock Down 2.7%

Shares of Shinhan Financial Group stock opened at $82.23 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.98 and a current ratio of 0.98. Shinhan Financial Group Co Ltd has a 52-week low of $46.26 and a 52-week high of $84.65. The stock has a market capitalization of $38.60 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 0.64 and a beta of 0.96. The company's 50 day moving average price is $72.88 and its 200-day moving average price is $67.77.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The bank reported $2.26 EPS for the quarter. The company had revenue of $2.96 billion during the quarter. Shinhan Financial Group had a net margin of 15.69% and a return on equity of 8.63%. Equities research analysts forecast that Shinhan Financial Group Co Ltd will post 8.53 EPS for the current year.

Wall Street Analysts Forecast Growth

SHG has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Shinhan Financial Group in a report on Friday, August 14th. 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 equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Strong Buy".

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.

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