Voloridge Investment Management LLC Buys Shares of 90,975 Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Voloridge Investment Management LLC purchased a new stake in shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 90,975 shares of the bank's stock, valued at approximately $2,991,000.

Several other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp raised its position in Shinhan Financial Group by 249.2% in the fourth quarter. Northern Trust Corp now owns 1,445,120 shares of the bank's stock valued at $47,516,000 after purchasing an additional 1,031,257 shares during the period. Millennium Management LLC purchased a new position in Shinhan Financial Group during the 4th quarter valued at about $7,600,000. D. E. Shaw & Co. Inc. purchased a new position in Shinhan Financial Group during the 4th quarter valued at about $5,830,000. Renaissance Technologies LLC boosted its holdings in Shinhan Financial Group by 606.8% during the 4th quarter. Renaissance Technologies LLC now owns 177,400 shares of the bank's stock valued at $5,833,000 after acquiring an additional 152,300 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Shinhan Financial Group by 301.8% during the 4th quarter. BNP Paribas Financial Markets now owns 110,786 shares of the bank's stock valued at $3,643,000 after acquiring an additional 83,213 shares during the period. Hedge funds and other institutional investors own 7.76% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Shinhan Financial Group from a "hold" rating to a "buy" rating in a research note on Monday, May 19th.

Shinhan Financial Group Stock Up 1.7%

NYSE:SHG traded up $0.70 during trading hours on Thursday, hitting $41.58. The company's stock had a trading volume of 179,576 shares, compared to its average volume of 180,455. The stock has a market capitalization of $20.93 billion, a P/E ratio of 6.53, a price-to-earnings-growth ratio of 0.44 and a beta of 0.84. The stock has a fifty day moving average of $34.79 and a 200-day moving average of $34.83. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.53. Shinhan Financial Group Co., Ltd. has a 52-week low of $28.76 and a 52-week high of $46.05.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last posted its earnings results on Tuesday, March 4th. The bank reported $1.94 EPS for the quarter. Shinhan Financial Group had a return on equity of 7.34% and a net margin of 12.21%. The firm had revenue of $2.82 billion for the quarter. On average, equities analysts forecast that Shinhan Financial Group Co., Ltd. will post 5.97 earnings per share for the current year.

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.