Summit Global Investments Sells 60,276 Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Summit Global Investments cut its stake in Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 49.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,805 shares of the bank’s stock after selling 60,276 shares during the period. Summit Global Investments’ holdings in Shinhan Financial Group were worth $2,576,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Caprock Group LLC boosted its position in Shinhan Financial Group by 2.1% in the 2nd quarter. Caprock Group LLC now owns 13,785 shares of the bank’s stock valued at $480,000 after buying an additional 286 shares during the last quarter. Profund Advisors LLC boosted its holdings in Shinhan Financial Group by 3.5% in the second quarter. Profund Advisors LLC now owns 9,537 shares of the bank’s stock valued at $332,000 after acquiring an additional 323 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Shinhan Financial Group by 6.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,224 shares of the bank’s stock worth $251,000 after purchasing an additional 421 shares during the period. EverSource Wealth Advisors LLC lifted its position in Shinhan Financial Group by 6.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,368 shares of the bank’s stock valued at $256,000 after purchasing an additional 445 shares during the period. Finally, Aaron Wealth Advisors LLC raised its stake in shares of Shinhan Financial Group by 8.1% during the third quarter. Aaron Wealth Advisors LLC now owns 7,338 shares of the bank’s stock worth $311,000 after buying an additional 548 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Shinhan Financial Group Trading Up 3.2 %

SHG opened at $41.27 on Friday. Shinhan Financial Group Co., Ltd. has a fifty-two week low of $26.24 and a fifty-two week high of $46.05. The company has a market cap of $21.02 billion, a price-to-earnings ratio of 6.48, a price-to-earnings-growth ratio of 0.65 and a beta of 0.93. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a 50 day simple moving average of $41.60 and a 200 day simple moving average of $38.59.

Shinhan Financial Group (NYSE:SHG) last issued its earnings results on Friday, October 25th. The bank reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.02. The firm had revenue of $3.11 billion for the quarter. Shinhan Financial Group had a return on equity of 7.24% and a net margin of 12.21%. On average, sell-side analysts anticipate that Shinhan Financial Group Co., Ltd. will post 6.32 earnings per share for the current year.

Shinhan Financial Group Company Profile

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.