Causeway Capital Management LLC Has $16.36 Million Stake in Shinhan Financial Group Co Ltd $SHG

Key Points

• Causeway Capital Management LLC increased its stake in Shinhan Financial Group by 56.6%, owning 509,806 shares valued at approximately $16.36 million at the end of the first quarter.
• Shinhan Financial Group's stock is currently priced at $47.81, with a market cap of $23.21 billion and a price-to-earnings ratio of 4.79.
• Analysts have upgraded Shinhan Financial Group from a "hold" to a "buy" rating, indicating growing confidence in the company's financial outlook.

Causeway Capital Management LLC raised its holdings in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 56.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 509,806 shares of the bank's stock after buying an additional 184,167 shares during the quarter. Causeway Capital Management LLC owned 0.10% of Shinhan Financial Group worth $16,355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHG. Wayfinding Financial LLC acquired a new position in Shinhan Financial Group during the 1st quarter worth about $25,000. Cullen Frost Bankers Inc. bought a new stake in Shinhan Financial Group in the 1st quarter valued at approximately $28,000. Tower Research Capital LLC TRC increased its position in shares of Shinhan Financial Group by 1,884.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank's stock valued at $95,000 after acquiring an additional 2,751 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Shinhan Financial Group in the fourth quarter valued at $125,000. Finally, Bessemer Group Inc. raised its stake in Shinhan Financial Group by 14.7% in the 1st quarter. Bessemer Group Inc. now owns 4,077 shares of the bank's stock valued at $131,000 after acquiring an additional 522 shares during the period. Institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Price Performance

Shinhan Financial Group stock opened at $47.81 on Tuesday. Shinhan Financial Group Co Ltd has a 12 month low of $28.76 and a 12 month high of $52.00. The business's 50 day simple moving average is $47.97 and its 200 day simple moving average is $39.71. The company has a market cap of $23.21 billion, a price-to-earnings ratio of 4.79, a PEG ratio of 0.53 and a beta of 0.93. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.48.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Shinhan Financial Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd.

Shinhan Financial Group 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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