Shinhan Financial Group Co Ltd $SHG Shares Bought by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP increased its Shinhan Financial Group stake by 46.4% in the second quarter, purchasing 12,212 additional shares for a total holding valued at approximately $2.44 million.
• Other institutional investors also expanded their positions, while institutional and hedge fund ownership of SHG stands at 7.76%.
• Analyst sentiment remains positive overall, with SHG carrying a “Moderate Buy” consensus rating; the stock opened at $82.61, near its 52-week high of $85.57, after reporting quarterly EPS of $2.26 and revenue of $2.96 billion.

Corient Private Wealth LP grew its holdings in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 46.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,537 shares of the bank's stock after buying an additional 12,212 shares during the period. Corient Private Wealth LP's holdings in Shinhan Financial Group were worth $2,437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SHG. First Trust Advisors LP raised its position in Shinhan Financial Group by 107.5% in the first quarter. First Trust Advisors LP now owns 34,286 shares of the bank's stock worth $2,102,000 after acquiring an additional 17,759 shares in the last quarter. Nykredit A S bought a new position in shares of Shinhan Financial Group during the 2nd quarter valued at about $5,326,000. Quantinno Capital Management LP grew its stake in shares of Shinhan Financial Group by 40.5% in the 1st quarter. Quantinno Capital Management LP now owns 173,250 shares of the bank's stock worth $10,624,000 after purchasing an additional 49,966 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Shinhan Financial Group by 11.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 194,096 shares of the bank's stock worth $10,409,000 after purchasing an additional 20,217 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Shinhan Financial Group by 28.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 38,002 shares of the bank's stock worth $2,330,000 after purchasing an additional 8,473 shares in the last quarter. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Shinhan Financial Group in a research note on Friday, August 14th. Zacks Research lowered shares of Shinhan Financial Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Shinhan Financial Group presently has an average rating of "Moderate Buy".

Shinhan Financial Group Stock Up 0.4%

Shares of NYSE:SHG opened at $82.61 on Wednesday. The company has a market cap of $38.78 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 0.62 and a beta of 0.96. The firm has a 50 day simple moving average of $76.18 and a 200 day simple moving average of $68.94. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.98 and a current ratio of 0.98. Shinhan Financial Group Co Ltd has a 52 week low of $47.05 and a 52 week high of $85.57.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The bank reported $2.26 EPS for the quarter. The firm had revenue of $2.96 billion during the quarter. Shinhan Financial Group had a return on equity of 8.63% and a net margin of 15.69%. As a group, research analysts expect that Shinhan Financial Group Co Ltd will post 8.53 earnings per share for the current year.

Shinhan Financial Group Company Profile

Shinhan Financial Group Co, Ltd. is a South Korean financial holding company headquartered in Seoul. Through its subsidiaries, the group provides a broad range of financial services, including retail and corporate banking, credit cards, securities brokerage and investment banking, asset management, life insurance, consumer finance and other specialized financial services.

Its principal banking operations are conducted through Shinhan Bank, while other major businesses include Shinhan Card, Shinhan Securities, Shinhan Life Insurance and Shinhan Asset Management.

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