Rhumbline Advisers Has $2.13 Million Holdings in Shinhan Financial Group Co Ltd (NYSE:SHG)

Rhumbline Advisers reduced its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 10.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Northern Trust Corp raised its position 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 purchasing an additional 1,031,257 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Shinhan Financial Group by 4.4% in the fourth quarter. Lazard Asset Management LLC now owns 1,353,820 shares of the bank's stock valued at $44,513,000 after buying an additional 57,640 shares during the last quarter. American Century Companies Inc. lifted its position in Shinhan Financial Group by 5.7% during the 4th quarter. American Century Companies Inc. now owns 786,028 shares of the bank's stock worth $25,845,000 after buying an additional 42,575 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Shinhan Financial Group by 14.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 558,550 shares of the bank's stock worth $18,365,000 after acquiring an additional 71,574 shares during the last quarter. Finally, Causeway Capital Management LLC grew its holdings in Shinhan Financial Group by 6.8% during the 4th quarter. Causeway Capital Management LLC now owns 325,639 shares of the bank's stock worth $10,707,000 after acquiring an additional 20,766 shares during the last quarter. 7.76% of the stock is owned by institutional investors.

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 Trading Up 0.4%

NYSE:SHG traded up $0.18 during trading hours on Friday, hitting $43.23. 153,511 shares of the stock were exchanged, compared to its average volume of 184,636. The company has a market capitalization of $21.43 billion, a P/E ratio of 5.63, a price-to-earnings-growth ratio of 0.53 and a beta of 0.90. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.51. The company's 50 day moving average is $38.36 and its two-hundred day moving average is $35.22. Shinhan Financial Group Co Ltd has a twelve month low of $28.76 and a twelve month high of $46.05.

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.