Pzena Investment Management LLC Sells 74,884 Shares of Shinhan Financial Group Co Ltd $SHG

Pzena Investment Management LLC lessened its holdings in Shinhan Financial Group Co Ltd (NYSE:SHG) by 7.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 952,762 shares of the bank’s stock after selling 74,884 shares during the period. Pzena Investment Management LLC’s holdings in Shinhan Financial Group were worth $47,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Shinhan Financial Group Stock Up 0.9%

NYSE SHG opened at $69.87 on Thursday. The stock’s 50 day simple moving average is $57.59 and its 200 day simple moving average is $53.25. Shinhan Financial Group Co Ltd has a one year low of $28.76 and a one year high of $73.40. The firm has a market cap of $33.92 billion, a PE ratio of 6.80, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.03 and a quick ratio of 1.03.

Wall Street Analyst Weigh In

SHG has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Monday, December 29th. Zacks Research upgraded Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Shinhan Financial Group has an average rating of “Moderate Buy”.

Shinhan Financial Group Company 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.