Cubist Systematic Strategies LLC Trims Stock Position in Shinhan Financial Group Co Ltd $SHG

Key Points

• Cubist Systematic Strategies LLC has decreased its stake in Shinhan Financial Group by 22.2% during Q1, shedding 9,063 shares and now holding a total of 31,748 shares valued at approximately $1,018,000.
• Other institutional investors, including Wayfinding Financial LLC and Bessemer Group Inc., have also adjusted their positions, with some acquiring new stakes valued at approximately $25,000 and $131,000 respectively.
• Shinhan Financial Group's stock has been downgraded from a "buy" rating to a "hold" rating by analysts at Wall Street Zen, indicating a cautious outlook on the stock's performance.

Cubist Systematic Strategies LLC trimmed its position in shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 22.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,748 shares of the bank's stock after selling 9,063 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Shinhan Financial Group were worth $1,018,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SHG. Wayfinding Financial LLC purchased a new stake in Shinhan Financial Group in the 1st quarter worth approximately $25,000. Cullen Frost Bankers Inc. purchased a new position in shares of Shinhan Financial Group during the 1st quarter worth $28,000. Bessemer Group Inc. raised its holdings in shares of Shinhan Financial Group by 14.7% during the 1st quarter. Bessemer Group Inc. now owns 4,077 shares of the bank's stock worth $131,000 after acquiring an additional 522 shares during the period. HB Wealth Management LLC purchased a new position in shares of Shinhan Financial Group during the 1st quarter worth $203,000. Finally, NBC Securities Inc. raised its holdings in shares of Shinhan Financial Group by 117,033.3% during the 1st quarter. NBC Securities Inc. now owns 7,028 shares of the bank's stock worth $225,000 after acquiring an additional 7,022 shares during the period. Institutional investors and hedge funds own 7.76% of the company's stock.

Shinhan Financial Group Stock Performance

NYSE SHG traded up $0.47 on Friday, reaching $49.32. The stock had a trading volume of 112,952 shares, compared to its average volume of 223,553. Shinhan Financial Group Co Ltd has a 12-month low of $28.76 and a 12-month high of $52.00. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.03 and a current ratio of 1.03. The business's 50-day moving average price is $48.79 and its 200 day moving average price is $40.84. The stock has a market cap of $23.94 billion, a P/E ratio of 4.94, a price-to-earnings-growth ratio of 0.53 and a beta of 0.96.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Shinhan Financial Group from a "buy" rating to a "hold" rating in a report on Saturday, August 30th.

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.