GAMMA Investing LLC Purchases 639 Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG)

GAMMA Investing LLC increased its holdings in Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 68.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,577 shares of the bank’s stock after acquiring an additional 639 shares during the quarter. GAMMA Investing LLC’s holdings in Shinhan Financial Group were worth $56,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brandes Investment Partners LP boosted its stake in shares of Shinhan Financial Group by 54.3% during the fourth quarter. Brandes Investment Partners LP now owns 483,643 shares of the bank’s stock valued at $14,887,000 after purchasing an additional 170,135 shares in the last quarter. Ramirez Asset Management Inc. purchased a new position in shares of Shinhan Financial Group in the 3rd quarter valued at $4,407,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Shinhan Financial Group by 147.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 95,773 shares of the bank’s stock worth $2,537,000 after purchasing an additional 57,110 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Shinhan Financial Group by 51.9% during the third quarter. Envestnet Asset Management Inc. now owns 131,410 shares of the bank’s stock valued at $3,481,000 after purchasing an additional 44,895 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Shinhan Financial Group by 9.2% in the third quarter. American Century Companies Inc. now owns 514,638 shares of the bank’s stock valued at $13,633,000 after purchasing an additional 43,516 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, June 6th.

Shinhan Financial Group Stock Performance

Shares of SHG stock opened at $34.73 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.49. The stock has a market cap of $17.69 billion, a PE ratio of 5.72, a price-to-earnings-growth ratio of 0.58 and a beta of 0.93. The business has a 50-day simple moving average of $33.88 and a 200-day simple moving average of $32.55. Shinhan Financial Group Co., Ltd. has a 52-week low of $24.99 and a 52-week high of $38.65.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings data on Thursday, May 16th. The bank reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.35. Shinhan Financial Group had a net margin of 12.76% and a return on equity of 7.23%. The business had revenue of $3.09 billion for the quarter. On average, equities analysts expect that Shinhan Financial Group Co., Ltd. will post 6.21 EPS for the current year.

About Shinhan Financial Group

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.