Candriam Luxembourg S.C.A. cut its position in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 76.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,200 shares of the bank’s stock after selling 40,000 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Shinhan Financial Group Co were worth $531,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Aperio Group LLC raised its stake in shares of Shinhan Financial Group Co by 17.3% in the second quarter. Aperio Group LLC now owns 352,859 shares of the bank’s stock worth $15,346,000 after buying an additional 51,915 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Shinhan Financial Group Co by 69.3% in the first quarter. Parametric Portfolio Associates LLC now owns 311,896 shares of the bank’s stock worth $13,034,000 after buying an additional 127,650 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Shinhan Financial Group Co during the first quarter worth approximately $12,576,000. Schwab Charles Investment Management Inc. raised its stake in shares of Shinhan Financial Group Co by 11.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 261,016 shares of the bank’s stock worth $10,908,000 after buying an additional 26,978 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Shinhan Financial Group Co by 1.9% in the first quarter. Bank of America Corp DE now owns 200,452 shares of the bank’s stock worth $8,377,000 after buying an additional 3,678 shares during the period. Institutional investors own 2.30% of the company’s stock.

Shares of Shinhan Financial Group Co Ltd (NYSE SHG) opened at 47.56 on Wednesday. The company has a market capitalization of $22.68 billion, a price-to-earnings ratio of 7.94 and a beta of 1.08. Shinhan Financial Group Co Ltd has a one year low of $35.15 and a one year high of $48.98. The stock has a 50 day moving average price of $45.68 and a 200-day moving average price of $43.30.

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Separately, Zacks Investment Research upgraded Shinhan Financial Group Co from a “hold” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a report on Wednesday, June 21st.

About Shinhan Financial Group Co

Shinhan Financial Group Co, Ltd. (SFG) is a financial holding company. The Company operates through five segments: commercial banking services, which are provided by Shinhan Bank Co, Ltd. (Shinhan Bank); credit card services, which are provided by Shinhan Card Co, Ltd. (Shinhan Card); securities brokerage services, which are provided by Shinhan Investment Corp.

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

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