Shinhan Financial Group Co Ltd $SHG Shares Acquired by Vanguard Personalized Indexing Management LLC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Shinhan Financial Group by 30.1%, holding 75,468 shares worth approximately $3.41 million as of the end of the second quarter.
• Other institutional investors have also increased their positions, with notable firms like Millennium Management and Goldman Sachs boosting their stakes significantly in the first quarter of the year.
• Shinhan Financial Group's stock currently has a market cap of $23.74 billion and analysts have recently downgraded its rating from "buy" to "hold," while the consensus rating remains "Moderate Buy."

Vanguard Personalized Indexing Management LLC grew its position in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 30.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 75,468 shares of the bank's stock after acquiring an additional 17,453 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Shinhan Financial Group were worth $3,410,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SHG. Ranmore Fund Management Ltd acquired a new position in shares of Shinhan Financial Group in the first quarter worth about $15,687,000. Millennium Management LLC raised its position in shares of Shinhan Financial Group by 152.0% in the first quarter. Millennium Management LLC now owns 582,570 shares of the bank's stock worth $18,689,000 after acquiring an additional 351,413 shares during the period. Causeway Capital Management LLC increased its stake in shares of Shinhan Financial Group by 56.6% during the first quarter. Causeway Capital Management LLC now owns 509,806 shares of the bank's stock worth $16,355,000 after purchasing an additional 184,167 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Shinhan Financial Group by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank's stock worth $10,376,000 after purchasing an additional 118,548 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Shinhan Financial Group by 10.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 617,210 shares of the bank's stock worth $19,800,000 after purchasing an additional 58,660 shares in the last quarter. Institutional investors and hedge funds own 7.76% of the company's stock.

Shinhan Financial Group Stock Down 1.5%

Shares of NYSE SHG opened at $48.91 on Wednesday. Shinhan Financial Group Co Ltd has a 12-month low of $28.76 and a 12-month high of $52.00. The stock has a market cap of $23.74 billion, a PE ratio of 4.90, a P/E/G ratio of 0.53 and a beta of 0.94. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.48. The company has a 50-day moving average of $49.11 and a 200 day moving average of $43.72.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SHG shares. Wall Street Zen cut shares of Shinhan Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Zacks Research cut shares of Shinhan Financial Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 24th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Shinhan Financial Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

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.

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