Shinhan Financial Group Co Ltd $SHG Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC trimmed its holdings in Shinhan Financial Group Co Ltd (NYSE:SHG) by 57.3% during the second quarter, Holdings Channel reports. The institutional investor owned 15,244 shares of the bank’s stock after selling 20,438 shares during the period. Squarepoint Ops LLC’s holdings in Shinhan Financial Group were worth $689,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Invesco Ltd. boosted its position in shares of Shinhan Financial Group by 1.7% in the first quarter. Invesco Ltd. now owns 39,492 shares of the bank’s stock worth $1,267,000 after acquiring an additional 649 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Shinhan Financial Group by 3.9% in the 1st quarter. Northern Trust Corp now owns 1,501,208 shares of the bank’s stock valued at $48,159,000 after purchasing an additional 56,088 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Shinhan Financial Group during the 1st quarter valued at $462,000. Walleye Capital LLC purchased a new stake in shares of Shinhan Financial Group during the 1st quarter valued at $327,000. Finally, Causeway Capital Management LLC increased its holdings in shares of Shinhan Financial Group by 56.6% during the 1st quarter. Causeway Capital Management LLC now owns 509,806 shares of the bank’s stock worth $16,355,000 after buying an additional 184,167 shares during the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SHG shares. Wall Street Zen cut Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings restated a “buy (b)” rating on shares of Shinhan Financial Group in a report on Monday. Finally, Zacks Research downgraded shares of Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Shinhan Financial Group presently has an average rating of “Hold”.

Shinhan Financial Group Trading Down 1.5%

Shares of SHG opened at $52.59 on Wednesday. Shinhan Financial Group Co Ltd has a 12 month low of $28.76 and a 12 month high of $56.13. The stock’s 50-day moving average is $53.16 and its two-hundred day moving average is $49.89. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $25.53 billion, a PE ratio of 5.12, a P/E/G ratio of 0.59 and a beta of 1.01.

Shinhan Financial Group (NYSE:SHG) last posted its earnings results on Friday, November 14th. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.08. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $3.79 billion. Shinhan Financial Group had a return on equity of 12.45% and a net margin of 22.38%. Equities analysts forecast that Shinhan Financial Group Co Ltd will post 5.97 earnings per share for the current fiscal year.

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.