Connor Clark & Lunn Investment Management Ltd. Lowers Stake in Shinhan Financial Group Co Ltd $SHG

Connor Clark & Lunn Investment Management Ltd. cut its stake in Shinhan Financial Group Co Ltd (NYSE:SHG) by 15.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 519,670 shares of the bank’s stock after selling 97,540 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.11% of Shinhan Financial Group worth $23,479,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its stake in shares of Shinhan Financial Group by 22.0% during the first quarter. Envestnet Asset Management Inc. now owns 197,709 shares of the bank’s stock valued at $6,343,000 after buying an additional 35,682 shares during the period. HB Wealth Management LLC purchased a new position in Shinhan Financial Group during the 1st quarter valued at about $203,000. Ramirez Asset Management Inc. increased its position in Shinhan Financial Group by 11.2% during the 1st quarter. Ramirez Asset Management Inc. now owns 215,892 shares of the bank’s stock valued at $6,926,000 after purchasing an additional 21,727 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Shinhan Financial Group by 20.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,056 shares of the bank’s stock worth $558,000 after purchasing an additional 2,080 shares during the period. Finally, Cerity Partners LLC lifted its position in shares of Shinhan Financial Group by 91.1% in the 1st quarter. Cerity Partners LLC now owns 53,954 shares of the bank’s stock worth $1,731,000 after purchasing an additional 25,716 shares during the period. Institutional investors own 7.76% of the company’s stock.

Wall Street Analyst Weigh In

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

Shinhan Financial Group Trading Down 3.3%

Shares of NYSE:SHG opened at $53.24 on Monday. The business’s 50-day moving average is $50.36 and its 200 day moving average is $46.43. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.03 and a quick ratio of 1.03. Shinhan Financial Group Co Ltd has a 1 year low of $28.76 and a 1 year high of $55.44. The firm has a market capitalization of $25.85 billion, a P/E ratio of 5.34, a P/E/G ratio of 0.56 and a beta of 1.00.

Shinhan Financial Group 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.