Ritholtz Wealth Management lessened its holdings in Shinhan Financial Group Co., Ltd. (NYSE:SHG – Free Report) by 1.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 77,342 shares of the bank’s stock after selling 1,038 shares during the period. Ritholtz Wealth Management’s holdings in Shinhan Financial Group were worth $2,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in shares of Shinhan Financial Group during the 4th quarter valued at about $29,000. SageView Advisory Group LLC acquired a new stake in Shinhan Financial Group during the first quarter valued at approximately $61,000. Allspring Global Investments Holdings LLC grew its stake in shares of Shinhan Financial Group by 42.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,290 shares of the bank’s stock valued at $81,000 after purchasing an additional 678 shares during the period. Janiczek Wealth Management LLC raised its holdings in shares of Shinhan Financial Group by 25.2% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,886 shares of the bank’s stock worth $103,000 after buying an additional 581 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in shares of Shinhan Financial Group during the 2nd quarter worth approximately $107,000. Institutional investors and hedge funds own 7.76% of the company’s stock.
Shinhan Financial Group Trading Down 1.8 %
Shares of Shinhan Financial Group stock opened at $42.45 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $21.62 billion, a P/E ratio of 6.99, a price-to-earnings-growth ratio of 0.75 and a beta of 0.93. Shinhan Financial Group Co., Ltd. has a 12-month low of $25.09 and a 12-month high of $46.05. The company has a 50-day simple moving average of $39.69 and a 200 day simple moving average of $35.96.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th.
View Our Latest Stock Analysis on SHG
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.
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