BlackRock Inc. Sells 165,208 Shares of Shinhan Financial Group Co., Ltd. (SHG)

BlackRock Inc. reduced its holdings in shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 32.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 338,807 shares of the bank’s stock after selling 165,208 shares during the period. BlackRock Inc. owned about 0.07% of Shinhan Financial Group worth $13,039,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BNP Paribas Arbitrage SA grew its holdings in shares of Shinhan Financial Group by 82.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,691 shares of the bank’s stock worth $199,000 after purchasing an additional 2,117 shares during the last quarter. A.R.T. Advisors LLC bought a new position in shares of Shinhan Financial Group in the first quarter worth approximately $207,000. Advisor Partners LLC bought a new position in shares of Shinhan Financial Group in the second quarter worth approximately $223,000. US Bancorp DE grew its holdings in shares of Shinhan Financial Group by 38.0% in the second quarter. US Bancorp DE now owns 7,334 shares of the bank’s stock worth $282,000 after purchasing an additional 2,020 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Shinhan Financial Group in the second quarter worth approximately $374,000. Institutional investors and hedge funds own 2.50% of the company’s stock.

SHG has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 27th. ValuEngine cut shares of Shinhan Financial Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 8th. Bank of America upgraded shares of Shinhan Financial Group from a “neutral” rating to a “buy” rating in a report on Thursday, August 30th. Finally, Credit Suisse Group initiated coverage on shares of Shinhan Financial Group in a report on Tuesday, October 23rd. They issued an “outperform” rating on the stock.

NYSE:SHG opened at $37.01 on Thursday. The firm has a market capitalization of $18.19 billion, a P/E ratio of 3.24, a P/E/G ratio of 1.55 and a beta of 1.05. Shinhan Financial Group Co., Ltd. has a twelve month low of $36.35 and a twelve month high of $50.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.64.

Shinhan Financial Group (NYSE:SHG) last released its quarterly earnings results on Tuesday, August 14th. The bank reported $3.66 earnings per share for the quarter. The business had revenue of $2.33 billion for the quarter. Shinhan Financial Group had a net margin of 17.31% and a return on equity of 8.45%. As a group, analysts predict that Shinhan Financial Group Co., Ltd. will post 5.68 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 five segments: Banking, Credit Cards, Securities, Life Insurance, and Others. It offers retail banking services, including mortgage and home equity, and retail lending; demand, savings, and fixed deposit-taking; checking accounts; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.

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Institutional Ownership by Quarter for Shinhan Financial Group (NYSE:SHG)

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