Shinhan Financial Group (NYSE:SHG – Get Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.
Separately, Bank of America raised shares of Shinhan Financial Group from a “neutral” rating to a “buy” rating in a report on Tuesday, January 16th.
Check Out Our Latest Stock Report on SHG
Shinhan Financial Group Stock Performance
Hedge Funds Weigh In On Shinhan Financial Group
Several institutional investors and hedge funds have recently made changes to their positions in SHG. Lazard Asset Management LLC grew its holdings in shares of Shinhan Financial Group by 77.9% during the 2nd quarter. Lazard Asset Management LLC now owns 1,914,904 shares of the bank’s stock valued at $49,902,000 after purchasing an additional 838,265 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Shinhan Financial Group by 91.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 650,458 shares of the bank’s stock valued at $21,745,000 after purchasing an additional 310,419 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Shinhan Financial Group by 235.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 293,661 shares of the bank’s stock valued at $2,166,000 after purchasing an additional 206,165 shares during the last quarter. Brandes Investment Partners LP grew its holdings in shares of Shinhan Financial Group by 54.3% during the 4th quarter. Brandes Investment Partners LP now owns 483,643 shares of the bank’s stock valued at $14,887,000 after purchasing an additional 170,135 shares during the last quarter. Finally, Ramirez Asset Management Inc. bought a new position in shares of Shinhan Financial Group during the 3rd quarter valued at $4,407,000. Institutional investors own 7.76% of the company’s stock.
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, Life 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.
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