Shinhan Financial Group Co., Ltd. (NYSE:SHG) Stake Cut by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. cut its position in shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 51.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 24,157 shares of the bank’s stock after selling 25,621 shares during the period. First Trust Direct Indexing L.P.’s holdings in Shinhan Financial Group were worth $857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in Shinhan Financial Group by 51.9% in the third quarter. Envestnet Asset Management Inc. now owns 131,410 shares of the bank’s stock worth $3,481,000 after buying an additional 44,895 shares during the period. American Century Companies Inc. increased its position in Shinhan Financial Group by 9.2% in the third quarter. American Century Companies Inc. now owns 514,638 shares of the bank’s stock worth $13,633,000 after buying an additional 43,516 shares during the period. Wellington Management Group LLP increased its position in Shinhan Financial Group by 16.1% in the third quarter. Wellington Management Group LLP now owns 115,622 shares of the bank’s stock worth $3,063,000 after buying an additional 15,993 shares during the period. Aprio Wealth Management LLC increased its position in Shinhan Financial Group by 10.9% in the fourth quarter. Aprio Wealth Management LLC now owns 9,361 shares of the bank’s stock worth $288,000 after buying an additional 920 shares during the period. Finally, Schechter Investment Advisors LLC increased its position in Shinhan Financial Group by 3.1% in the fourth quarter. Schechter Investment Advisors LLC now owns 28,678 shares of the bank’s stock worth $883,000 after buying an additional 870 shares during the period. 7.76% of the stock is currently owned by institutional investors.

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

Shares of SHG opened at $38.31 on Friday. The firm has a market capitalization of $19.51 billion, a price-to-earnings ratio of 6.31, a price-to-earnings-growth ratio of 0.64 and a beta of 0.93. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.02 and a current ratio of 1.02. Shinhan Financial Group Co., Ltd. has a one year low of $24.99 and a one year high of $38.65. The stock’s fifty day moving average is $34.66 and its 200-day moving average is $32.93.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings results on Thursday, May 16th. The bank reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.35. The company had revenue of $3.09 billion for the quarter. Shinhan Financial Group had a return on equity of 7.23% and a net margin of 12.76%. Equities analysts anticipate that Shinhan Financial Group Co., Ltd. will post 6.21 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.