QRG Capital Management Inc. Lowers Stake in Shinhan Financial Group Co Ltd (NYSE:SHG)

QRG Capital Management Inc. reduced its stake in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 35.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,734 shares of the bank's stock after selling 8,718 shares during the period. QRG Capital Management Inc.'s holdings in Shinhan Financial Group were worth $505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its holdings in shares of 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 in the last quarter. Millennium Management LLC purchased a new stake in Shinhan Financial Group in the fourth quarter valued at $7,600,000. D. E. Shaw & Co. Inc. acquired a new position in Shinhan Financial Group in the fourth quarter valued at $5,830,000. Renaissance Technologies LLC grew its holdings in shares of Shinhan Financial Group by 606.8% during the fourth quarter. Renaissance Technologies LLC now owns 177,400 shares of the bank's stock worth $5,833,000 after purchasing an additional 152,300 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in shares of Shinhan Financial Group during the fourth quarter worth about $2,991,000. Institutional investors and hedge funds own 7.76% of the company's stock.

Wall Street Analyst Weigh In

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

Shinhan Financial Group Stock Performance

SHG traded down $0.22 during trading on Thursday, hitting $44.18. 139,474 shares of the stock were exchanged, compared to its average volume of 187,033. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.51. Shinhan Financial Group Co Ltd has a 1-year low of $28.76 and a 1-year high of $46.05. The stock has a fifty day moving average price of $39.23 and a two-hundred day moving average price of $35.40. The firm has a market capitalization of $21.91 billion, a P/E ratio of 5.75, a PEG ratio of 0.55 and a beta of 0.90.

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.