Ethic Inc. Sells 13,072 Shares of Shinhan Financial Group Co Ltd $SHG

Key Points

• Ethic Inc. has reduced its stake in Shinhan Financial Group by 18.5%, holding 57,496 shares valued at approximately $1.87 million after selling 13,072 shares in the first quarter.
• Northern Trust Corp significantly increased its position in Shinhan Financial Group by 249.2%, now owning 1,445,120 shares worth $47.5 million.
• Wall Street analysts upgraded Shinhan Financial Group from a "hold" to a "buy" rating, indicating a positive outlook on the stock's future performance.

Ethic Inc. reduced its holdings in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 18.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,496 shares of the bank's stock after selling 13,072 shares during the quarter. Ethic Inc.'s holdings in Shinhan Financial Group were worth $1,872,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of Shinhan Financial Group during the 1st quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new position in shares of Shinhan Financial Group during the 1st quarter worth approximately $28,000. Tower Research Capital LLC TRC grew its stake in shares of Shinhan Financial Group by 1,884.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank's stock worth $95,000 after acquiring an additional 2,751 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Shinhan Financial Group during the 4th quarter worth approximately $125,000. Finally, Bessemer Group Inc. grew its stake in shares of Shinhan Financial Group by 14.7% during the 1st quarter. Bessemer Group Inc. now owns 4,077 shares of the bank's stock worth $131,000 after acquiring an additional 522 shares in the last quarter. 7.76% of the stock is owned by institutional investors.

Shinhan Financial Group Stock Up 1.7%

Shares of NYSE:SHG traded up $0.84 during midday trading on Friday, hitting $48.95. The stock had a trading volume of 98,810 shares, compared to its average volume of 148,952. Shinhan Financial Group Co Ltd has a 12 month low of $28.76 and a 12 month 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 business's 50-day simple moving average is $47.90 and its 200-day simple moving average is $39.61. The company has a market cap of $23.76 billion, a P/E ratio of 4.90, a PEG ratio of 0.53 and a beta of 0.93.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of 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.