Canopy Partners LLC Acquires New Shares in Shinhan Financial Group Co Ltd $SHG

Canopy Partners LLC acquired a new stake in Shinhan Financial Group Co Ltd (NYSE:SHG) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,735 shares of the bank’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp lifted its position in Shinhan Financial Group by 3.9% in the 1st quarter. Northern Trust Corp now owns 1,501,208 shares of the bank’s stock valued at $48,159,000 after acquiring an additional 56,088 shares in the last quarter. Pzena Investment Management LLC lifted its position in Shinhan Financial Group by 0.4% in the 1st quarter. Pzena Investment Management LLC now owns 1,078,696 shares of the bank’s stock valued at $34,605,000 after acquiring an additional 4,645 shares in the last quarter. American Century Companies Inc. lifted its position in Shinhan Financial Group by 6.9% in the 1st quarter. American Century Companies Inc. now owns 840,232 shares of the bank’s stock valued at $26,955,000 after acquiring an additional 54,204 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Shinhan Financial Group by 10.5% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 617,210 shares of the bank’s stock valued at $19,800,000 after acquiring an additional 58,660 shares in the last quarter. Finally, Millennium Management LLC lifted its position 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 in the last quarter. 7.76% of the stock is owned by institutional investors.

Shinhan Financial Group Trading Up 2.3%

NYSE:SHG opened at $51.27 on Thursday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $24.89 billion, a price-to-earnings ratio of 5.14, a price-to-earnings-growth ratio of 0.54 and a beta of 0.94. Shinhan Financial Group Co Ltd has a one year low of $28.76 and a one year high of $52.00. The business has a fifty day moving average price of $48.99 and a 200-day moving average price of $43.17.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen cut Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Zacks Research lowered shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Shinhan Financial Group in a research note on Wednesday. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

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.