We focus on the problem of estimating the average vector $\text{\boldmath$\text{\boldmath$\theta$}$}= ( \theta_{1} ,\ldots,\theta_{d} )$ of a random vector $\mathbf{X} \in \mathbb{R}^{d }$ which follows a spherically symmetric distribution. We consider modified balanced loss functions of the form:\\$ \textbf{(i)}\ \ L_{\omega,\text{\boldmath$\text{\boldmath$\delta$}$}_0,\rho}(\text{\boldmath$\text{\boldmath$\delta$}$},\text{\boldmath$\text{\boldmath$\theta$}$})=\omega \rho(\|\text{\boldmath$\text{\boldmath$\delta$}$} - \text{\boldmath$\text{\boldmath$\delta$}$}_ {0 }\|^{2}) +(1-\omega)\rho(\|\text{\boldmath$\text{\boldmath$\delta$}$} - \text{\boldmath$\text{\boldmath$\theta$}$}\|^{2})\ \hbox{ and } \ \textbf{(ii)}\ \ \ell(\omega \ \|\text{\boldmath$\text{\boldmath$\delta$}$} - \text{\boldmath$\text{\boldmath$\delta$}$}_{0}\|^{2} +(1-\omega)\|\text{\boldmath$\text{\boldmath$\delta$}$}- \text{\boldmath$\text{\boldmath$\theta$}$}\|^{2}). $Here, $\text{\boldmath$\text{\boldmath$\delta$}$}_{0}$ represents a target estimator of $\text{\boldmath$\text{\boldmath$\theta$}$}$, $\omega \in [0,1]$ and $\rho$ and $\ell$ are increasing and concave functions. If $d \geq 4$ and the target estimator is $\text{\boldmath$\text{\boldmath$\delta$}$}_{0}(\mathbf{X})=\mathbf{X}$, we provide conditions on the parameter $a$ for Baranchik type estimators $\text{\boldmath$\text{\boldmath$\delta$}$}_{a,S} (\mathbf{X}) =\left(1-a(1-\omega) S(\| \mathbf{X}\|^2)/\|\mathbf{\mathbf{X}}\|^{2} \right)\mathbf{X}$ and reach the minimaxity. These conditions are derived using the radial properties of spherically symmetric distributions, which do not require the existence of a probability density for the random vector $\mathbf{X}$. Furthermore, we extend the obtained results to the case of robust shrinkage estimators of the form $\text{\boldmath$\delta$}_{\omega,g}(\mathbf{X})=\mathbf{X} + a(1-\omega)g(\mathbf{X})$, where $g(\cdot)$ is a weakly differentiable and satisfying some conditions. Additionally, we conduct a simulation study in order to show the effectiveness and the usefulness of the obtained results.