Y Intercept Hong Kong Ltd Sells 13,069 Shares of Shinhan Financial Group Co Ltd $SHG

Y Intercept Hong Kong Ltd trimmed its holdings in Shinhan Financial Group Co Ltd (NYSE:SHG) by 39.8% in the 1st quarter, Holdings Channel reports. The fund owned 19,743 shares of the bank’s stock after selling 13,069 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Shinhan Financial Group were worth $1,211,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Bell Investment Advisors Inc grew its stake in shares of Shinhan Financial Group by 31.3% in the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock worth $46,000 after buying an additional 178 shares during the last quarter. Allworth Financial LP increased its holdings in Shinhan Financial Group by 12.5% in 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. raised its holdings in shares of Shinhan Financial Group by 2.2% during the fourth quarter. Bridgewater Advisors Inc. now owns 9,438 shares of the bank’s stock valued at $541,000 after purchasing an additional 199 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in Shinhan Financial Group by 71.2% during 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 last quarter. Finally, Assetmark Inc. lifted its holdings in Shinhan Financial Group by 6.3% in the fourth quarter. Assetmark Inc. now owns 3,492 shares of the bank’s stock valued at $187,000 after acquiring an additional 207 shares during the period. Institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Price Performance

Shares of NYSE:SHG traded up $2.68 on Friday, reaching $73.26. The company’s stock had a trading volume of 149,981 shares, compared to its average volume of 279,290. The company has a 50-day simple moving average of $65.93 and a 200 day simple moving average of $63.14. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $34.77 billion, a P/E ratio of 7.95, a PEG ratio of 0.56 and a beta of 0.94. Shinhan Financial Group Co Ltd has a 52-week low of $46.26 and a 52-week high of $73.80.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on SHG. Zacks Research cut shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings raised shares of Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently 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.