Shinhan Financial Group Co Ltd $SHG Shares Sold by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital cut its Shinhan Financial Group stake by 45.2% in the first quarter, selling 404,659 shares and retaining 490,158 shares worth approximately $30.1 million.
• Other institutional investors generally increased their positions, although overall institutional and hedge-fund ownership remains relatively limited at 7.76% of outstanding shares.
• SHG shares opened at $68.44, with a market capitalization of $32.48 billion and a P/E ratio of 9.20. Analysts maintain a favorable outlook, with the stock carrying an average “Strong Buy” rating and fiscal-year EPS estimates of $8.53.

Arrowstreet Capital Limited Partnership lessened its stake in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 45.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 490,158 shares of the bank's stock after selling 404,659 shares during the period. Arrowstreet Capital Limited Partnership owned 0.10% of Shinhan Financial Group worth $30,056,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Brown Brothers Harriman & Co. raised its holdings in Shinhan Financial Group by 71.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank's stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Shinhan Financial Group during the 4th quarter valued at $38,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Shinhan Financial Group by 1,465.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank's stock valued at $41,000 after purchasing an additional 850 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Shinhan Financial Group by 6,238.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank's stock worth $44,000 after buying an additional 811 shares in the last quarter. Finally, Bell Investment Advisors Inc boosted its position 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 purchasing an additional 178 shares in the last quarter. 7.76% of the stock is owned by institutional investors and hedge funds.

Shinhan Financial Group Stock Down 2.0%

NYSE:SHG opened at $68.44 on Thursday. The firm has a market capitalization of $32.48 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.53 and a beta of 0.94. Shinhan Financial Group Co Ltd has a 1-year low of $46.26 and a 1-year high of $73.80. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.43. The business's fifty day moving average price is $67.20 and its 200 day moving average price is $64.76.

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

Wall Street Analysts Forecast Growth

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

Shinhan Financial Group Profile

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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