Shinhan Financial Group Co Ltd $SHG Shares Acquired by Ranmore Fund Management Ltd

Ranmore Fund Management Ltd increased its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 8.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 529,000 shares of the bank’s stock after acquiring an additional 40,000 shares during the period. Shinhan Financial Group makes up approximately 9.5% of Ranmore Fund Management Ltd’s holdings, making the stock its largest holding. Ranmore Fund Management Ltd’s holdings in Shinhan Financial Group were worth $23,900,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vise Technologies Inc. purchased a new position in shares of Shinhan Financial Group in the second quarter valued at $1,233,000. Profund Advisors LLC boosted its position in Shinhan Financial Group by 24.0% in the 2nd quarter. Profund Advisors LLC now owns 11,623 shares of the bank’s stock valued at $525,000 after buying an additional 2,250 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Shinhan Financial Group in the second quarter valued at about $177,000. Vestmark Advisory Solutions Inc. acquired a new stake in Shinhan Financial Group during the 2nd quarter valued at approximately $214,000. Finally, Savant Capital LLC purchased a new stake in Shinhan Financial Group during the 2nd quarter worth approximately $271,000. Institutional investors and hedge funds own 7.76% of the company’s stock.

Wall Street Analyst Weigh In

SHG has been the subject of several research analyst reports. Zacks Research cut Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Wall Street Zen lowered shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Thursday, October 30th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Shinhan Financial Group currently has an average rating of “Moderate Buy”.

Shinhan Financial Group Stock Performance

Shares of NYSE SHG opened at $53.69 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.48. The firm’s 50-day moving average price is $50.65 and its two-hundred day moving average price is $46.71. Shinhan Financial Group Co Ltd has a 52-week low of $28.76 and a 52-week high of $55.44. The stock has a market capitalization of $26.07 billion, a P/E ratio of 5.38, a P/E/G ratio of 0.56 and a beta of 1.00.

About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.