Shinhan Financial Group (NYSE:SHG) Reaches New 52-Week High - Here's Why

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $51.48 and last traded at $51.23, with a volume of 702491 shares traded. The stock had previously closed at $49.59.

Analyst Ratings Changes

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

Shinhan Financial Group Stock Down 1.3%

The stock has a 50-day moving average of $42.98 and a two-hundred day moving average of $36.76. The company has a market cap of $24.63 billion, a P/E ratio of 6.47, a P/E/G ratio of 0.62 and a beta of 0.92. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.04 and a current ratio of 1.04.

Institutional Trading of Shinhan Financial Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp increased its stake in shares of Shinhan Financial Group by 249.2% during the fourth quarter. Northern Trust Corp now owns 1,445,120 shares of the bank's stock valued at $47,516,000 after buying an additional 1,031,257 shares during the period. Ranmore Fund Management Ltd purchased a new position in shares of Shinhan Financial Group during the first quarter valued at approximately $15,687,000. Millennium Management LLC increased its stake in shares of Shinhan Financial Group by 152.0% during the first quarter. Millennium Management LLC now owns 582,570 shares of the bank's stock valued at $18,689,000 after buying 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 valued at $16,355,000 after buying an additional 184,167 shares during the period. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Shinhan Financial Group during the fourth quarter valued at approximately $5,830,000. Institutional investors own 7.76% of the company's stock.

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.