Zacks Investment Research lowered shares of Shinhan Financial Group Co Ltd (NYSE:SHG) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

According to Zacks, “Shinhan Financial Group is Korea’s largest financial services company. Shinhan Bank is the Group’s flagship subsidiary, and, when combined with the recently acquired Chohung Bank, is Korea’s second largest banking operation. Besides banking, the Group operates subsidiaries in securities, credit cards, asset management, leasing, bancassurance, and project finance. “

Shinhan Financial Group Co (NYSE SHG) opened at 45.10 on Friday. The company has a market capitalization of $21.39 billion, a PE ratio of 8.12 and a beta of 1.10. Shinhan Financial Group Co has a one year low of $30.57 and a one year high of $45.37. The stock’s 50 day moving average is $44.00 and its 200 day moving average is $41.35.

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Several hedge funds have recently bought and sold shares of SHG. Russell Investments Group Ltd. acquired a new stake in Shinhan Financial Group Co during the fourth quarter valued at about $262,000. Comerica Bank raised its stake in Shinhan Financial Group Co by 11.2% in the fourth quarter. Comerica Bank now owns 27,863 shares of the bank’s stock valued at $1,050,000 after buying an additional 2,797 shares during the period. FMR LLC raised its stake in Shinhan Financial Group Co by 10.7% in the fourth quarter. FMR LLC now owns 30,811 shares of the bank’s stock valued at $1,160,000 after buying an additional 2,981 shares during the period. Allianz Asset Management AG acquired a new stake in Shinhan Financial Group Co during the fourth quarter valued at about $6,756,000. Finally, Renaissance Technologies LLC acquired a new stake in Shinhan Financial Group Co during the fourth quarter valued at about $1,103,000. 2.36% of the stock is currently owned by institutional investors.

About Shinhan Financial Group Co

Shinhan Financial Group Co, Ltd. (SFG) is a financial holding company. The Company operates through five segments: commercial banking services, which are provided by Shinhan Bank Co, Ltd. (Shinhan Bank); credit card services, which are provided by Shinhan Card Co, Ltd. (Shinhan Card); securities brokerage services, which are provided by Shinhan Investment Corp.

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