Shinhan Financial Group Co., Ltd. (NYSE:SHG) Shares Acquired by Atomi Financial Group Inc.

Atomi Financial Group Inc. grew its position in Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 22.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,212 shares of the bank’s stock after purchasing an additional 2,605 shares during the period. Atomi Financial Group Inc.’s holdings in Shinhan Financial Group were worth $495,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in Shinhan Financial Group by 27.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,612 shares of the bank’s stock worth $50,000 after acquiring an additional 349 shares during the period. GAMMA Investing LLC acquired a new stake in Shinhan Financial Group during the fourth quarter worth about $29,000. Natixis Advisors L.P. grew its holdings in Shinhan Financial Group by 6.7% during the fourth quarter. Natixis Advisors L.P. now owns 85,201 shares of the bank’s stock worth $2,622,000 after acquiring an additional 5,385 shares during the period. Summit Global Investments grew its holdings in Shinhan Financial Group by 13.6% during the fourth quarter. Summit Global Investments now owns 11,060 shares of the bank’s stock worth $340,000 after acquiring an additional 1,327 shares during the period. Finally, QRG Capital Management Inc. grew its holdings in Shinhan Financial Group by 10.0% during the fourth quarter. QRG Capital Management Inc. now owns 13,869 shares of the bank’s stock worth $427,000 after acquiring an additional 1,262 shares during the period. 7.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, June 6th.

Shinhan Financial Group Price Performance

SHG stock traded down $0.76 during mid-day trading on Tuesday, reaching $44.95. 71,300 shares of the company’s stock were exchanged, compared to its average volume of 124,172. The company has a market cap of $22.90 billion, a price-to-earnings ratio of 7.41, a price-to-earnings-growth ratio of 0.73 and a beta of 0.93. The stock’s 50 day moving average is $38.92 and its 200 day moving average is $35.66. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.02 and a quick ratio of 1.02. Shinhan Financial Group Co., Ltd. has a 12-month low of $25.09 and a 12-month high of $46.05.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings results on Friday, July 26th. The bank reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.19. The company had revenue of $3.25 billion for the quarter. Shinhan Financial Group had a return on equity of 7.58% and a net margin of 12.97%. On average, research analysts expect that Shinhan Financial Group Co., Ltd. will post 6.22 EPS 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.