Ethic Inc. Has $1.87 Million Stock Holdings in 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. trimmed its holdings in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 18.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,496 shares of the bank's stock after selling 13,072 shares during the period. Ethic Inc.'s holdings in Shinhan Financial Group were worth $1,872,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SHG. Northern Trust Corp increased its position in Shinhan Financial Group by 249.2% in the 4th quarter. Northern Trust Corp now owns 1,445,120 shares of the bank's stock valued at $47,516,000 after acquiring an additional 1,031,257 shares during the period. Lazard Asset Management LLC lifted its position in shares of Shinhan Financial Group by 4.4% during the 4th quarter. Lazard Asset Management LLC now owns 1,353,820 shares of the bank's stock valued at $44,513,000 after acquiring an additional 57,640 shares during the last quarter. Pzena Investment Management LLC boosted its position in shares of Shinhan Financial Group by 0.4% in the 1st quarter. Pzena Investment Management LLC now owns 1,078,696 shares of the bank's stock valued at $34,605,000 after purchasing an additional 4,645 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Shinhan Financial Group by 10.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 617,210 shares of the bank's stock valued at $19,800,000 after acquiring an additional 58,660 shares during the period. Finally, Ranmore Fund Management Ltd purchased a new position in shares of Shinhan Financial Group during the first quarter valued at $15,687,000. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Shinhan Financial Group Price Performance

Shares of NYSE:SHG traded up $0.84 during midday trading on Friday, reaching $48.95. The company's stock had a trading volume of 98,810 shares, compared to its average volume of 228,381. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.03 and a quick ratio of 1.04. The business's fifty day simple moving average is $47.79 and its 200-day simple moving average is $39.45. Shinhan Financial Group Co Ltd has a fifty-two week low of $28.76 and a fifty-two week high of $52.00. The company has a market capitalization of $23.76 billion, a P/E ratio of 4.90, a P/E/G ratio of 0.52 and a beta of 0.93.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded 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.