Shinhan Financial Group (NYSE:SHG) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shinhan Financial Group Co Ltd (NYSE:SHG) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $59.07 and traded as high as $68.73. Shinhan Financial Group shares last traded at $68.5850, with a volume of 205,082 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SHG shares. Weiss Ratings cut shares of Shinhan Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, April 27th. Zacks Research cut shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Shinhan Financial Group Stock Up 1.0%

The stock has a market capitalization of $32.55 billion, a price-to-earnings ratio of 7.61, a PEG ratio of 0.53 and a beta of 0.97. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day moving average of $64.33 and a 200 day moving average of $59.07.

Hedge Funds Weigh In On Shinhan Financial Group

Several hedge funds have recently bought and sold shares of the company. Bell Investment Advisors Inc boosted its stake in shares of Shinhan Financial Group by 31.3% in the first quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock valued at $46,000 after purchasing an additional 178 shares during the period. Bessemer Group Inc. increased its stake in Shinhan Financial Group by 3.3% during the 1st quarter. Bessemer Group Inc. now owns 5,744 shares of the bank’s stock worth $352,000 after buying an additional 183 shares during the period. Allworth Financial LP lifted its holdings in Shinhan Financial Group by 12.5% during the 4th quarter. Allworth Financial LP now owns 1,703 shares of the bank’s stock worth $91,000 after buying an additional 189 shares in the last quarter. Bridgewater Advisors Inc. lifted its holdings in Shinhan Financial Group by 2.2% during the 4th quarter. Bridgewater Advisors Inc. now owns 9,438 shares of the bank’s stock worth $541,000 after buying an additional 199 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in Shinhan Financial Group by 71.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock valued at $26,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 7.76% of the company’s stock.

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.