Crossmark Global Holdings Inc. Trims Stock Position in Shinhan Financial Group Co Ltd $SHG

Crossmark Global Holdings Inc. lessened its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 31.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 23,428 shares of the bank’s stock after selling 10,993 shares during the period. Crossmark Global Holdings Inc.’s holdings in Shinhan Financial Group were worth $1,180,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SHG. Royal Bank of Canada raised its position in Shinhan Financial Group by 9.1% during the 1st quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock valued at $4,049,000 after purchasing an additional 10,534 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Shinhan Financial Group during the 1st quarter worth $210,000. Millennium Management LLC increased its stake in shares of Shinhan Financial Group by 152.0% during the first quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock valued at $18,689,000 after buying an additional 351,413 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Shinhan Financial Group by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock valued at $10,376,000 after buying an additional 118,548 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Shinhan Financial Group by 10.2% in the second quarter. Envestnet Asset Management Inc. now owns 217,835 shares of the bank’s stock valued at $9,842,000 after acquiring an additional 20,126 shares in the last quarter. Institutional investors own 7.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on SHG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a report on Monday, December 29th. Zacks Research upgraded shares of Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Strong Buy”.

Shinhan Financial Group Stock Performance

Shares of SHG stock opened at $61.55 on Tuesday. Shinhan Financial Group Co Ltd has a 12-month low of $28.76 and a 12-month high of $73.40. The business’s fifty day simple moving average is $61.03 and its 200-day simple moving average is $54.84. The company has a current ratio of 1.00, a quick ratio of 1.03 and a debt-to-equity ratio of 1.54. The company has a market cap of $29.22 billion, a PE ratio of 6.83, a PEG ratio of 0.48 and a beta of 0.97.

About Shinhan Financial Group

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company’s principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.