Causeway Capital Management LLC Purchases 15,837 Shares of Shinhan Financial Group Co Ltd $SHG

Causeway Capital Management LLC raised its holdings in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 2.9% during the third quarter, Holdings Channel.com reports. The fund owned 565,975 shares of the bank’s stock after buying an additional 15,837 shares during the period. Causeway Capital Management LLC’s holdings in Shinhan Financial Group were worth $28,508,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SHG. Royal Bank of Canada grew its holdings in Shinhan Financial Group by 9.1% during the 1st quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock valued at $4,049,000 after buying an additional 10,534 shares in the last quarter. AQR Capital Management LLC bought a new stake in Shinhan Financial Group in the 1st quarter valued at $210,000. Millennium Management LLC increased its holdings in Shinhan Financial Group by 152.0% in the 1st quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock valued at $18,689,000 after acquiring an additional 351,413 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Shinhan Financial Group by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock worth $10,376,000 after purchasing an additional 118,548 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Shinhan Financial Group by 10.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 217,835 shares of the bank’s stock valued at $9,842,000 after purchasing an additional 20,126 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SHG shares. Weiss Ratings restated a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Monday, December 29th. Zacks Research raised Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, Shinhan Financial Group currently has an average rating of “Strong Buy”.

Shinhan Financial Group Stock Performance

Shinhan Financial Group stock opened at $61.55 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.00 and a debt-to-equity ratio of 1.54. Shinhan Financial Group Co Ltd has a twelve month low of $28.76 and a twelve month high of $73.40. The company’s 50-day moving average price is $61.03 and its 200-day moving average price is $54.84. The company has a market cap of $29.22 billion, a PE ratio of 6.83, a price-to-earnings-growth ratio of 0.48 and a beta of 0.97.

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.