Sequoia Financial Advisors LLC Increases Holdings in Shinhan Financial Group Co Ltd $SHG

Sequoia Financial Advisors LLC lifted its holdings in Shinhan Financial Group Co Ltd (NYSE:SHG) by 28.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,002 shares of the bank’s stock after acquiring an additional 8,473 shares during the period. Sequoia Financial Advisors LLC’s holdings in Shinhan Financial Group were worth $2,330,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SHG. Royal Bank of Canada lifted its holdings in Shinhan Financial Group by 9.1% in the 1st quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock worth $4,049,000 after purchasing an additional 10,534 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Shinhan Financial Group during the 1st quarter valued at approximately $210,000. Millennium Management LLC raised its position in shares of Shinhan Financial Group by 152.0% during the first quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock valued at $18,689,000 after buying an additional 351,413 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Shinhan Financial Group by 57.9% during the first 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 during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Shinhan Financial Group by 1,465.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after buying an additional 850 shares in the last quarter. Hedge funds and other institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Price Performance

SHG stock opened at $71.20 on Wednesday. Shinhan Financial Group Co Ltd has a 52 week low of $46.26 and a 52 week high of $73.80. The firm has a market capitalization of $33.80 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 0.58 and a beta of 0.94. The company has a fifty day simple moving average of $66.08 and a two-hundred day simple moving average of $63.47. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.43.

Shinhan Financial Group (NYSE:SHG) last announced its earnings results on Tuesday, March 31st. The bank reported $1.98 earnings per share (EPS) for the quarter. Shinhan Financial Group had a net margin of 20.07% and a return on equity of 10.97%. Analysts anticipate that Shinhan Financial Group Co Ltd will post 8.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.