Connor Clark & Lunn Investment Management Ltd. Reduces Stake in Shinhan Financial Group Co., Ltd. (SHG)

Connor Clark & Lunn Investment Management Ltd. lessened its position in Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 72.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,126 shares of the bank’s stock after selling 92,980 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Shinhan Financial Group were worth $1,410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHG. Pzena Investment Management LLC lifted its position in shares of Shinhan Financial Group by 2.7% during the second quarter. Pzena Investment Management LLC now owns 83,124 shares of the bank’s stock valued at $3,199,000 after buying an additional 2,156 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Shinhan Financial Group during the second quarter valued at about $374,000. Greenleaf Trust lifted its position in shares of Shinhan Financial Group by 22.1% during the second quarter. Greenleaf Trust now owns 18,357 shares of the bank’s stock valued at $706,000 after buying an additional 3,324 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Shinhan Financial Group by 6.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 433,643 shares of the bank’s stock valued at $16,687,000 after buying an additional 26,956 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Shinhan Financial Group by 38.0% in the 2nd quarter. US Bancorp DE now owns 7,334 shares of the bank’s stock valued at $282,000 after purchasing an additional 2,020 shares during the last quarter. 2.47% of the stock is currently owned by institutional investors.

SHG has been the subject of several research analyst reports. ValuEngine raised shares of Shinhan Financial Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 22nd. Zacks Investment Research lowered shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 27th. Bank of America raised shares of Shinhan Financial Group from a “neutral” rating to a “buy” rating in a research report on Thursday, August 30th. Finally, Credit Suisse Group initiated coverage on shares of Shinhan Financial Group in a research report on Tuesday, October 23rd. They issued an “outperform” rating for the company.

Shares of Shinhan Financial Group stock opened at $34.89 on Friday. The company has a market capitalization of $17.85 billion, a P/E ratio of 6.09, a P/E/G ratio of 1.52 and a beta of 1.04. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.61. Shinhan Financial Group Co., Ltd. has a 52 week low of $34.54 and a 52 week high of $50.37.

Shinhan Financial Group (NYSE:SHG) last announced its quarterly earnings data on Wednesday, November 14th. The bank reported $1.57 EPS for the quarter. The firm had revenue of $2.36 billion during the quarter. Shinhan Financial Group had a net margin of 17.68% and a return on equity of 8.43%. Analysts expect that Shinhan Financial Group Co., Ltd. will post 5.68 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Connor Clark & Lunn Investment Management Ltd. Reduces Stake in Shinhan Financial Group Co., Ltd. (SHG)” was first published by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/12/08/connor-clark-lunn-investment-management-ltd-reduces-stake-in-shinhan-financial-group-co-ltd-shg.html.

Shinhan Financial Group Profile

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through five segments: Banking, Credit Cards, Securities, Life Insurance, and Others. It offers retail banking services, including mortgage and home equity, and retail lending; demand, savings, and fixed deposit-taking; checking accounts; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.

Featured Article: Float

Want to see what other hedge funds are holding SHG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shinhan Financial Group Co., Ltd. (NYSE:SHG).

Institutional Ownership by Quarter for Shinhan Financial Group (NYSE:SHG)

Receive News & Ratings for Shinhan Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shinhan Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply