Rhumbline Advisers Cuts Stock Position in Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Rhumbline Advisers lessened its holdings in Shinhan Financial Group Co., Ltd. (NYSE:SHG - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,255 shares of the bank's stock after selling 7,544 shares during the quarter. Rhumbline Advisers' holdings in Shinhan Financial Group were worth $2,125,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Northern Trust Corp grew 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 acquiring an additional 1,031,257 shares during the period. Millennium Management LLC acquired a new stake in Shinhan Financial Group in the 4th quarter valued at $7,600,000. 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 grew 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 acquiring an additional 152,300 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in shares of Shinhan Financial Group during the fourth quarter valued at approximately $2,991,000. Institutional investors and hedge funds own 7.76% of the company's stock.

Shinhan Financial Group Trading Down 2.3%

Shares of NYSE SHG traded down $1.03 during trading on Tuesday, hitting $43.46. 99,968 shares of the company were exchanged, compared to its average volume of 184,022. Shinhan Financial Group Co., Ltd. has a 12-month low of $28.76 and a 12-month high of $46.05. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.04 and a current ratio of 1.04. The company has a fifty day moving average price of $37.64 and a 200-day moving average price of $35.08. The firm has a market capitalization of $21.55 billion, a PE ratio of 6.82, a P/E/G ratio of 0.44 and a beta of 0.90.

Analysts Set New Price Targets

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

Shinhan Financial Group Company 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.