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

Pzena Investment Management LLC lessened its position in Shinhan Financial Group Co Ltd (NYSE:SHG) by 24.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 690,651 shares of the bank’s stock after selling 221,137 shares during the period. Pzena Investment Management LLC owned approximately 0.15% of Shinhan Financial Group worth $42,351,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Shinhan Financial Group by 9.1% during the first quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock worth $4,049,000 after acquiring an additional 10,534 shares during the period. AQR Capital Management LLC purchased a new position in Shinhan Financial Group during the first quarter worth about $210,000. Millennium Management LLC boosted its holdings in Shinhan Financial Group by 152.0% in the 1st quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock valued at $18,689,000 after purchasing an additional 351,413 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Shinhan Financial Group by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock worth $10,376,000 after purchasing an additional 118,548 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Shinhan Financial Group by 1,465.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after purchasing an additional 850 shares during the period. Hedge funds and other institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Trading Down 1.4%

NYSE:SHG opened at $62.37 on Thursday. Shinhan Financial Group Co Ltd has a 52-week low of $45.07 and a 52-week high of $73.40. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.43. The stock has a fifty day simple moving average of $65.41 and a 200-day simple moving average of $62.35. The company has a market capitalization of $29.60 billion, a PE ratio of 6.77, a price-to-earnings-growth ratio of 0.56 and a beta of 0.94.

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

Analysts Set New Price Targets

Several research firms have recently commented on SHG. Weiss Ratings raised Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Zacks Research lowered Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average 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.