Shinhan Financial Group (NYSE:SHG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, January 2nd.
According to Zacks, “Shinhan Financial Group is Korea’s largest financial services company. Shinhan Bank is the Group’s flagship subsidiary, and, when combined with the recently acquired Chohung Bank, is Korea’s second largest banking operation. Besides banking, the Group operates subsidiaries in securities, credit cards, asset management, leasing, bancassurance, and project finance. “
Shinhan Financial Group (SHG) opened at $50.01 on Tuesday. Shinhan Financial Group has a 1-year low of $37.58 and a 1-year high of $50.01. The company has a market cap of $23,330.59, a price-to-earnings ratio of 4.22, a P/E/G ratio of 1.69 and a beta of 1.08. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.47.
A number of hedge funds have recently made changes to their positions in SHG. Dimensional Fund Advisors LP raised its position in shares of Shinhan Financial Group by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,696,515 shares of the bank’s stock valued at $119,448,000 after purchasing an additional 32,845 shares during the period. Vanguard Group Inc. increased its position in Shinhan Financial Group by 1.1% during the second quarter. Vanguard Group Inc. now owns 1,500,199 shares of the bank’s stock worth $65,244,000 after acquiring an additional 16,082 shares during the period. Northern Trust Corp increased its position in Shinhan Financial Group by 6.6% during the second quarter. Northern Trust Corp now owns 1,266,029 shares of the bank’s stock worth $55,060,000 after acquiring an additional 78,581 shares during the period. Aperio Group LLC increased its position in Shinhan Financial Group by 10.2% during the third quarter. Aperio Group LLC now owns 388,931 shares of the bank’s stock worth $17,230,000 after acquiring an additional 36,072 shares during the period. Finally, Parametric Portfolio Associates LLC increased its position in Shinhan Financial Group by 7.9% during the third quarter. Parametric Portfolio Associates LLC now owns 368,395 shares of the bank’s stock worth $16,320,000 after acquiring an additional 26,907 shares during the period. Hedge funds and other institutional investors own 2.25% of the company’s stock.
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Shinhan Financial Group Company Profile
Shinhan Financial Group Co, Ltd. (SFG) is a financial holding company. The Company operates through five segments: commercial banking services, which are provided by Shinhan Bank Co, Ltd. (Shinhan Bank); credit card services, which are provided by Shinhan Card Co, Ltd. (Shinhan Card); securities brokerage services, which are provided by Shinhan Investment Corp.
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