Promethos Capital LLC Sells 26,040 Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Promethos Capital LLC lessened its holdings in Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 11.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 195,816 shares of the bank’s stock after selling 26,040 shares during the period. Shinhan Financial Group accounts for approximately 2.5% of Promethos Capital LLC’s holdings, making the stock its 15th biggest position. Promethos Capital LLC’s holdings in Shinhan Financial Group were worth $6,812,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. XTX Topco Ltd bought a new position in shares of Shinhan Financial Group during the second quarter worth $232,000. Hsbc Holdings PLC bought a new position in shares of Shinhan Financial Group during the 2nd quarter valued at about $234,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Shinhan Financial Group by 4.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 63,490 shares of the bank’s stock valued at $2,202,000 after purchasing an additional 2,914 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Shinhan Financial Group by 2.0% in the second quarter. Envestnet Asset Management Inc. now owns 122,477 shares of the bank’s stock worth $4,263,000 after purchasing an additional 2,373 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Shinhan Financial Group by 6.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,224 shares of the bank’s stock worth $251,000 after buying an additional 421 shares in the last quarter. 7.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Shinhan Financial Group Trading Up 1.9 %

Shares of SHG opened at $43.42 on Friday. The stock has a market capitalization of $22.12 billion, a PE ratio of 7.15, a P/E/G ratio of 0.75 and a beta of 0.92. The company’s fifty day moving average is $41.38 and its 200 day moving average is $36.85. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.02 and a current ratio of 1.02. Shinhan Financial Group Co., Ltd. has a fifty-two week low of $25.09 and a fifty-two week high of $46.05.

Shinhan Financial Group (NYSE:SHG) last posted its earnings results on Friday, July 26th. The bank reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.19. Shinhan Financial Group had a net margin of 12.23% and a return on equity of 7.16%. The firm had revenue of $3.25 billion for the quarter. Sell-side analysts expect that Shinhan Financial Group Co., Ltd. will post 6.22 earnings per share for the current fiscal 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.