489,000 Shares in Shinhan Financial Group Co Ltd (NYSE:SHG) Acquired by Ranmore Fund Management Ltd

Key Points

• Ranmore Fund Management Ltd has acquired a new stake in Shinhan Financial Group, purchasing 489,000 shares valued at approximately $15.7 million, making it the fund's third largest holding.
• Shinhan Financial Group's stock has recently seen increased institutional interest, with several funds boosting their positions in the bank during the last quarter.
• Shares of Shinhan Financial Group are currently trading at around $49.71, marking significant growth with a 12-month high of $52.00 and a P/E ratio of 4.98.

Ranmore Fund Management Ltd bought a new position in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 489,000 shares of the bank's stock, valued at approximately $15,687,000. Shinhan Financial Group comprises about 9.4% of Ranmore Fund Management Ltd's investment portfolio, making the stock its 3rd largest holding. Ranmore Fund Management Ltd owned approximately 0.10% of Shinhan Financial Group at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SHG. LPL Financial LLC lifted its stake in shares of Shinhan Financial Group by 24.6% in the 4th quarter. LPL Financial LLC now owns 9,750 shares of the bank's stock valued at $321,000 after purchasing an additional 1,923 shares during the period. JPMorgan Chase & Co. raised its position in shares of Shinhan Financial Group by 1,834.3% in the fourth 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. Cerity Partners LLC raised its position in shares of Shinhan Financial Group by 12.8% in the fourth quarter. Cerity Partners LLC now owns 28,238 shares of the bank's stock valued at $1,008,000 after buying an additional 3,209 shares during the last quarter. Renaissance Technologies LLC increased its position in 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, Raymond James Financial Inc. acquired a new stake in Shinhan Financial Group during the fourth quarter worth about $574,000. Hedge funds and other institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Stock Down 0.2%

Shares of NYSE SHG traded down $0.08 during midday trading on Friday, hitting $49.86. The company's stock had a trading volume of 129,879 shares, compared to its average volume of 231,664. The business's fifty day simple moving average is $47.30 and its two-hundred day simple moving average is $38.98. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.04 and a quick ratio of 1.04. Shinhan Financial Group Co Ltd has a 1 year low of $28.76 and a 1 year high of $52.00. The firm has a market capitalization of $24.21 billion, a price-to-earnings ratio of 5.00, a price-to-earnings-growth ratio of 0.54 and a beta of 0.93.

Wall Street Analysts Forecast Growth

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.