Shinhan Financial Group Co Ltd $SHG Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC decreased its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 24.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 690,651 shares of the bank’s stock after selling 221,137 shares during the quarter. Pzena Investment Management LLC’s holdings in Shinhan Financial Group were worth $42,351,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in SHG. Brown Brothers Harriman & Co. boosted its stake in shares of Shinhan Financial Group by 71.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Shinhan Financial Group in the 4th quarter valued at about $38,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Shinhan Financial Group by 1,465.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock valued at $41,000 after purchasing an additional 850 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Shinhan Financial Group by 6,238.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock valued at $44,000 after purchasing an additional 811 shares in the last quarter. Finally, Bell Investment Advisors Inc boosted its stake in shares of Shinhan Financial Group by 31.3% during the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock worth $46,000 after purchasing an additional 178 shares during the last quarter. 7.76% of the stock is owned by institutional investors and hedge funds.

Shinhan Financial Group Trading Down 1.4%

Shares of SHG opened at $62.37 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $29.60 billion, a P/E ratio of 6.77, a price-to-earnings-growth ratio of 0.56 and a beta of 0.94. The stock’s fifty day simple moving average is $65.41 and its 200 day simple moving average is $62.35. Shinhan Financial Group Co Ltd has a twelve month low of $45.07 and a twelve month high of $73.40.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings results on Tuesday, March 31st. The bank reported $1.98 earnings per share (EPS) for the quarter. Shinhan Financial Group had a return on equity of 10.97% and a net margin of 20.07%. On average, equities research analysts forecast that Shinhan Financial Group Co Ltd will post 7.99 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Zacks Research downgraded shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Profile

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company’s principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.