Royal Bank of Canada Decreases Holdings in Shinhan Financial Group Co Ltd $SHG

Key Points

• Royal Bank of Canada reduced its Shinhan Financial Group stake by 21.5% in the first quarter, selling 18,589 shares and retaining 67,920 shares valued at approximately $4.17 million.
• Shinhan shares opened at $74.80, near their 52-week high of $77.54, with a market capitalization of $35.11 billion. The bank reported quarterly EPS of $1.98, a 15.69% net margin and an 8.69% return on equity.
• Analyst sentiment improved, with Weiss Ratings upgrading the stock to “buy” and Zacks Research raising it to “strong buy”; MarketBeat data shows an overall average rating of “Strong Buy.”

Royal Bank of Canada cut its position in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 21.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,920 shares of the bank's stock after selling 18,589 shares during the period. Royal Bank of Canada's holdings in Shinhan Financial Group were worth $4,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SHG. Brown Brothers Harriman & Co. lifted its position in shares of Shinhan Financial Group by 71.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank's stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Shinhan Financial Group in the 4th quarter valued at $38,000. Northwestern Mutual Wealth Management Co. grew its position in Shinhan Financial Group by 1,465.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank's stock valued at $41,000 after acquiring an additional 850 shares during the period. Caitong International Asset Management Co. Ltd increased its position in Shinhan Financial Group by 6,238.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank's stock worth $44,000 after purchasing an additional 811 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its holdings in shares of Shinhan Financial Group by 31.3% during the 1st 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. Institutional investors and hedge funds own 7.76% of the company's stock.

Shinhan Financial Group Trading Up 1.5%

Shares of NYSE SHG opened at $74.80 on Friday. The business has a 50 day simple moving average of $69.16 and a 200 day simple moving average of $66.15. Shinhan Financial Group Co Ltd has a 52 week low of $46.26 and a 52 week high of $77.54. The stock has a market cap of $35.11 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 0.56 and a beta of 0.94. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.00 and a current ratio of 1.00.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The bank reported $1.98 earnings per share (EPS) for the quarter. Shinhan Financial Group had a net margin of 15.69% and a return on equity of 8.69%. On average, research analysts predict that Shinhan Financial Group Co Ltd will post 8.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on SHG shares. Weiss Ratings upgraded Shinhan Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, May 19th. Zacks Research raised Shinhan Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Strong Buy".

About Shinhan Financial Group

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company's principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.

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