Nykredit A S Purchases Shares of 84,207 Shinhan Financial Group Co Ltd $SHG

Key Points

• Nykredit A/S initiated a position in Shinhan Financial Group, purchasing 84,207 shares valued at approximately $5.3 million. Hedge funds and institutional investors collectively own 7.76% of the stock.
• Shinhan Financial shares opened at $82.27, near their 52-week high of $85.57, with the stock up significantly from its $47.05 low. The bank reported quarterly earnings of $2.26 per share on $2.96 billion in revenue.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating, although Zacks Research recently downgraded the stock from “strong buy” to “hold.”

Nykredit A S purchased a new position in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 84,207 shares of the bank's stock, valued at approximately $5,326,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bell Investment Advisors Inc grew its stake in Shinhan Financial Group by 31.3% during the first quarter. Bell Investment Advisors Inc now owns 747 shares of the bank's stock valued at $46,000 after acquiring an additional 178 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Shinhan Financial Group by 3.3% in the 1st quarter. Bessemer Group Inc. now owns 5,744 shares of the bank's stock worth $352,000 after buying an additional 183 shares in the last quarter. Allworth Financial LP grew its stake in shares of Shinhan Financial Group by 12.5% in the 4th quarter. Allworth Financial LP now owns 1,703 shares of the bank's stock worth $91,000 after buying an additional 189 shares in the last quarter. WealthCollab LLC increased its holdings in shares of Shinhan Financial Group by 19.2% in the 1st quarter. WealthCollab LLC now owns 1,635 shares of the bank's stock worth $100,000 after buying an additional 263 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in shares of Shinhan Financial Group by 5.1% in the 1st quarter. Glenmede Trust Co. NA now owns 5,668 shares of the bank's stock worth $348,000 after buying an additional 277 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.

Shinhan Financial Group Stock Performance

Shares of Shinhan Financial Group stock opened at $82.27 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.45. The stock's fifty day moving average is $75.95 and its two-hundred day moving average is $68.81. Shinhan Financial Group Co Ltd has a 52 week low of $47.05 and a 52 week high of $85.57. The company has a market capitalization of $38.62 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.60 and a beta of 0.96.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last released its earnings results on Friday, August 14th. The bank reported $2.26 earnings per share for the quarter. The business had revenue of $2.96 billion during the quarter. Shinhan Financial Group had a return on equity of 8.63% and a net margin of 15.69%. As a group, analysts expect that Shinhan Financial Group Co Ltd will post 8.53 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Zacks Research cut Shinhan Financial Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Shinhan Financial Group in a research note on Friday, August 14th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy".

About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. is a South Korean financial holding company headquartered in Seoul. Through its subsidiaries, the group provides a broad range of financial services, including retail and corporate banking, credit cards, securities brokerage and investment banking, asset management, life insurance, consumer finance and other specialized financial services.

Its principal banking operations are conducted through Shinhan Bank, while other major businesses include Shinhan Card, Shinhan Securities, Shinhan Life Insurance and Shinhan Asset Management.

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