Millennium Management LLC Takes Position in Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Millennium Management LLC acquired a new position in shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 231,157 shares of the bank's stock, valued at approximately $7,600,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northern Trust Corp increased its stake 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 buying an additional 1,031,257 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in Shinhan Financial Group in the 4th quarter valued at $5,830,000. Renaissance Technologies LLC increased its stake in Shinhan Financial Group by 606.8% in the 4th quarter. Renaissance Technologies LLC now owns 177,400 shares of the bank's stock valued at $5,833,000 after buying an additional 152,300 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Shinhan Financial Group by 301.8% in the 4th quarter. BNP Paribas Financial Markets now owns 110,786 shares of the bank's stock valued at $3,643,000 after buying an additional 83,213 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Shinhan Financial Group by 1,834.3% in the 4th quarter. JPMorgan Chase & Co. now owns 85,999 shares of the bank's stock valued at $2,828,000 after buying an additional 81,553 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Shinhan Financial Group from a "hold" rating to a "buy" rating in a research report on Monday, May 19th.

Shinhan Financial Group Stock Performance

Shares of SHG traded up $0.70 during midday trading on Thursday, reaching $41.58. The stock had a trading volume of 179,576 shares, compared to its average volume of 180,054. The firm has a 50 day simple moving average of $34.79 and a 200-day simple moving average of $34.83. Shinhan Financial Group Co., Ltd. has a one year low of $28.76 and a one year high of $46.05. The firm has a market cap of $20.93 billion, a PE ratio of 6.53, a P/E/G ratio of 0.44 and a beta of 0.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.53.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The bank reported $1.94 EPS for the quarter. Shinhan Financial Group had a net margin of 12.21% and a return on equity of 7.34%. The company had revenue of $2.82 billion during the quarter. As a group, sell-side analysts anticipate that Shinhan Financial Group Co., Ltd. will post 5.97 EPS for the current year.

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.