Callan Family Office LLC Takes $335,000 Position in Shinhan Financial Group Co Ltd $SHG

Key Points

• Callan Family Office LLC invested approximately $335,000 in Shinhan Financial Group Co Ltd by acquiring 7,412 shares during Q2.
• Several institutional investors have increased their stakes in SHG, with Millennium Management LLC boosting its position by 152% in the first quarter.
• Analysts have recently downgraded Shinhan Financial Group from "strong-buy" to "hold," with current ratings reflecting a Moderate Buy sentiment among analysts.

Callan Family Office LLC bought a new stake in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,412 shares of the bank's stock, valued at approximately $335,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHG. Ranmore Fund Management Ltd purchased a new stake in Shinhan Financial Group during the 1st quarter worth $15,687,000. Millennium Management LLC increased its stake in 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 buying an additional 351,413 shares during the period. Causeway Capital Management LLC increased its stake in Shinhan Financial Group by 56.6% during the 1st quarter. Causeway Capital Management LLC now owns 509,806 shares of the bank's stock worth $16,355,000 after buying an additional 184,167 shares during the period. Goldman Sachs Group Inc. increased its stake in 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 buying an additional 118,548 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Shinhan Financial Group by 10.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 617,210 shares of the bank's stock worth $19,800,000 after buying an additional 58,660 shares during the period. Hedge funds and other institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Trading Up 3.5%

NYSE SHG opened at $50.66 on Thursday. Shinhan Financial Group Co Ltd has a one year low of $28.76 and a one year high of $52.00. The company has a 50-day simple moving average of $49.13 and a 200-day simple moving average of $43.76. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $24.59 billion, a PE ratio of 5.08, a price-to-earnings-growth ratio of 0.53 and a beta of 0.94.

Analysts Set New Price Targets

Several research firms recently issued reports on SHG. Zacks Research downgraded shares of Shinhan Financial Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 24th. Wall Street Zen downgraded shares of Shinhan Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Shinhan Financial Group in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

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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