Pzena Investment Management LLC Has $47.99 Million Stake in Shinhan Financial Group Co Ltd $SHG

Pzena Investment Management LLC trimmed its stake in Shinhan Financial Group Co Ltd (NYSE:SHG) by 7.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 952,762 shares of the bank’s stock after selling 74,884 shares during the quarter. Pzena Investment Management LLC owned 0.20% of Shinhan Financial Group worth $47,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its holdings in shares of Shinhan Financial Group by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 979,011 shares of the bank’s stock valued at $44,232,000 after buying an additional 138,779 shares during the last quarter. Virtus Family Office LLC bought a new position in Shinhan Financial Group during the third quarter valued at approximately $4,507,000. Y Intercept Hong Kong Ltd acquired a new stake in Shinhan Financial Group in the second quarter valued at approximately $1,138,000. Creative Planning grew its position in Shinhan Financial Group by 70.3% in the second quarter. Creative Planning now owns 162,873 shares of the bank’s stock worth $7,359,000 after acquiring an additional 67,223 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Shinhan Financial Group by 10.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 217,835 shares of the bank’s stock worth $9,842,000 after purchasing an additional 20,126 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.

Shinhan Financial Group Stock Up 0.9%

SHG stock opened at $69.87 on Thursday. Shinhan Financial Group Co Ltd has a 52-week low of $28.76 and a 52-week high of $73.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $33.92 billion, a price-to-earnings ratio of 6.80, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00. The company has a 50-day moving average of $57.59 and a two-hundred day moving average of $53.25.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SHG shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Monday, December 29th. Zacks Research raised Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Shinhan Financial Group has a consensus rating of “Moderate Buy”.

About Shinhan Financial Group

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.