Dimensional Fund Advisors LP Trims Position in Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Dimensional Fund Advisors LP lessened its stake in shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 2.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,567,686 shares of the bank’s stock after selling 35,475 shares during the quarter. Dimensional Fund Advisors LP owned about 0.31% of Shinhan Financial Group worth $54,570,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in shares of Shinhan Financial Group by 2.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 19,063 shares of the bank’s stock worth $587,000 after purchasing an additional 527 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Shinhan Financial Group by 3.7% during the fourth quarter. Corient Private Wealth LLC now owns 24,567 shares of the bank’s stock worth $756,000 after purchasing an additional 881 shares in the last quarter. Trexquant Investment LP grew its holdings in shares of Shinhan Financial Group by 116.9% during the fourth quarter. Trexquant Investment LP now owns 16,967 shares of the bank’s stock worth $522,000 after purchasing an additional 9,144 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Shinhan Financial Group by 2.5% during the fourth quarter. Franklin Resources Inc. now owns 29,862 shares of the bank’s stock worth $919,000 after purchasing an additional 726 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Shinhan Financial Group by 12.4% during the fourth quarter. US Bancorp DE now owns 28,407 shares of the bank’s stock worth $874,000 after purchasing an additional 3,131 shares in the last quarter. Hedge funds and other institutional investors own 7.76% of the company’s stock.

Wall Street Analyst Weigh In

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

Shinhan Financial Group Stock Down 2.7 %

Shares of NYSE SHG opened at $43.57 on Friday. The business has a 50-day moving average of $41.95 and a 200-day moving average of $37.19. The firm has a market capitalization of $22.19 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 0.75 and a beta of 0.92. 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 current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.50.

Shinhan Financial Group (NYSE:SHG) last released 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. The company had revenue of $3.25 billion during the quarter. Shinhan Financial Group had a return on equity of 7.16% and a net margin of 12.23%. 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.