Maverick Capital Ltd. Buys 9,733 Shares of Shinhan Financial Group Co Ltd $SHG

Maverick Capital Ltd. boosted its stake in Shinhan Financial Group Co Ltd (NYSE:SHG) by 69.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,804 shares of the bank’s stock after purchasing an additional 9,733 shares during the quarter. Maverick Capital Ltd.’s holdings in Shinhan Financial Group were worth $1,460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SHG. Millennium Management LLC grew its stake in Shinhan Financial Group by 152.0% during the first quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock worth $18,689,000 after buying an additional 351,413 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Shinhan Financial Group by 57.9% in the 1st 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 in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Shinhan Financial Group by 6.0% during the 4th quarter. Lazard Asset Management LLC now owns 1,671,184 shares of the bank’s stock worth $89,626,000 after acquiring an additional 94,449 shares during the period. UBS Group AG lifted its holdings in shares of Shinhan Financial Group by 129.1% during the 4th quarter. UBS Group AG now owns 151,613 shares of the bank’s stock worth $8,131,000 after acquiring an additional 85,446 shares during the period. Finally, Laird Norton Wetherby Trust Company LLC acquired a new stake in shares of Shinhan Financial Group during the 4th quarter worth approximately $4,030,000. Institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Stock Performance

Shares of SHG stock opened at $71.58 on Tuesday. The business’s 50-day moving average price is $66.98 and its 200-day moving average price is $64.54. Shinhan Financial Group Co Ltd has a 12 month low of $46.26 and a 12 month high of $73.80. The firm has a market capitalization of $33.97 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 0.55 and a beta of 0.94. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.43.

Shinhan Financial Group (NYSE:SHG) last released its quarterly earnings results on Tuesday, March 31st. The bank reported $1.98 earnings per share for the quarter. Shinhan Financial Group had a return on equity of 8.69% and a net margin of 15.69%. Equities research analysts forecast that Shinhan Financial Group Co Ltd will post 8.32 EPS for the current year.

Wall Street Analyst Weigh In

SHG has been the topic of a number of recent analyst reports. Zacks Research cut shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings upgraded Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Shinhan Financial Group currently has an average rating of “Moderate Buy”.

Shinhan Financial Group Company 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.