Royal Bank of Canada Has $4.17 Million Position in Shinhan Financial Group Co Ltd $SHG

Royal Bank of Canada cut its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 21.5% in the 1st quarter, HoldingsChannel reports. The fund owned 67,920 shares of the bank’s stock after selling 18,589 shares during the quarter. Royal Bank of Canada’s holdings in Shinhan Financial Group were worth $4,166,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Bell Investment Advisors Inc grew its position in Shinhan Financial Group by 31.3% during the first quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock worth $46,000 after buying an additional 178 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Shinhan Financial Group by 3.3% in the 1st quarter. Bessemer Group Inc. now owns 5,744 shares of the bank’s stock valued at $352,000 after purchasing an additional 183 shares in the last quarter. Allworth Financial LP grew its stake in shares of Shinhan Financial Group by 12.5% during the fourth quarter. Allworth Financial LP now owns 1,703 shares of the bank’s stock worth $91,000 after buying an additional 189 shares during the last quarter. Bridgewater Advisors Inc. increased its holdings in Shinhan Financial Group by 2.2% in the 4th quarter. Bridgewater Advisors Inc. now owns 9,438 shares of the bank’s stock worth $541,000 after purchasing an additional 199 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Shinhan Financial Group by 71.2% in the fourth 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 own 7.76% of the company’s stock.

Shinhan Financial Group Trading Up 1.5%

Shinhan Financial Group stock opened at $74.80 on Friday. The stock has a market capitalization of $35.11 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 0.56 and a beta of 0.94. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.00 and a quick ratio of 1.00. Shinhan Financial Group Co Ltd has a one year low of $46.26 and a one year high of $77.54. The business’s fifty day moving average is $69.16 and its 200 day moving average is $66.15.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings results on Tuesday, March 31st. The bank reported $1.98 earnings per share for the quarter. Shinhan Financial Group had a net margin of 15.69% and a return on equity of 8.69%. On average, sell-side analysts predict that Shinhan Financial Group Co Ltd will post 8.53 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on SHG shares. Weiss Ratings upgraded Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Zacks Research raised Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Strong Buy”.

Shinhan Financial Group Profile

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.