JPMorgan Chase & Co. Reduces Stock Position in Shinhan Financial Group Co Ltd $SHG

JPMorgan Chase & Co. decreased its position in Shinhan Financial Group Co Ltd (NYSE:SHG) by 25.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 269,470 shares of the bank’s stock after selling 92,789 shares during the quarter. JPMorgan Chase & Co.’s holdings in Shinhan Financial Group were worth $13,573,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHG. Corient Private Wealth LLC grew its holdings in shares of Shinhan Financial Group by 1.1% during the second quarter. Corient Private Wealth LLC now owns 20,076 shares of the bank’s stock worth $907,000 after buying an additional 213 shares in the last quarter. Savant Capital LLC grew its stake in Shinhan Financial Group by 3.5% in the 3rd quarter. Savant Capital LLC now owns 6,221 shares of the bank’s stock worth $313,000 after acquiring an additional 213 shares during the period. Groupama Asset Managment raised its holdings in Shinhan Financial Group by 1.9% in the 2nd quarter. Groupama Asset Managment now owns 17,525 shares of the bank’s stock valued at $777,000 after acquiring an additional 330 shares during the last quarter. Gitterman Wealth Management LLC lifted its stake in shares of Shinhan Financial Group by 9.0% during the 3rd quarter. Gitterman Wealth Management LLC now owns 4,181 shares of the bank’s stock worth $211,000 after purchasing an additional 346 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Shinhan Financial Group by 18.2% during the third quarter. Farther Finance Advisors LLC now owns 2,255 shares of the bank’s stock worth $114,000 after purchasing an additional 347 shares during the last quarter. 7.76% of the stock is currently owned by hedge funds and other institutional investors.

Shinhan Financial Group Trading Up 0.3%

NYSE SHG opened at $63.94 on Thursday. The firm has a market capitalization of $31.04 billion, a price-to-earnings ratio of 6.23, a PEG ratio of 0.51 and a beta of 0.97. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.03 and a current ratio of 1.03. Shinhan Financial Group Co Ltd has a one year low of $28.76 and a one year high of $73.40. The company’s 50 day moving average price is $60.63 and its 200 day moving average price is $54.54.

Wall Street Analysts Forecast Growth

SHG has been the subject of several analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Monday, December 29th. Zacks Research raised shares of Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Shinhan Financial Group Profile

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.