Pzena Investment Management LLC Sells 40,974 Shares of Shinhan Financial Group Co Ltd $SHG

Pzena Investment Management LLC decreased its holdings in Shinhan Financial Group Co Ltd (NYSE:SHG) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 911,788 shares of the bank’s stock after selling 40,974 shares during the period. Pzena Investment Management LLC’s holdings in Shinhan Financial Group were worth $48,899,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Lazard Asset Management LLC boosted its stake in shares of Shinhan Financial Group by 5.3% in the third quarter. Lazard Asset Management LLC now owns 1,576,735 shares of the bank’s stock worth $79,420,000 after acquiring an additional 78,768 shares during the period. Northern Trust Corp boosted its stake in shares of Shinhan Financial Group by 0.5% in the third quarter. Northern Trust Corp now owns 1,498,706 shares of the bank’s stock worth $75,490,000 after acquiring an additional 7,518 shares during the period. American Century Companies Inc. boosted its stake in shares of Shinhan Financial Group by 11.3% in the third quarter. American Century Companies Inc. now owns 1,089,798 shares of the bank’s stock worth $54,893,000 after acquiring an additional 110,787 shares during the period. Bank of America Corp DE boosted its stake in shares of Shinhan Financial Group by 0.5% in the third quarter. Bank of America Corp DE now owns 686,044 shares of the bank’s stock worth $34,556,000 after acquiring an additional 3,709 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Shinhan Financial Group by 152.0% in the first quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock worth $18,689,000 after acquiring an additional 351,413 shares during the period. Institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Price Performance

NYSE:SHG opened at $64.09 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $30.42 billion, a P/E ratio of 6.96, a P/E/G ratio of 0.50 and a beta of 0.97. Shinhan Financial Group Co Ltd has a 12 month low of $38.66 and a 12 month high of $73.40. The business’s 50-day moving average is $64.42 and its 200 day moving average is $60.08.

Shinhan Financial Group (NYSE:SHG) last posted its earnings results on Tuesday, March 31st. The bank reported $1.98 EPS for the quarter. Shinhan Financial Group had a return on equity of 11.02% 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 fiscal year.

Analysts Set New Price Targets

SHG has been the subject of a number of recent analyst reports. Zacks Research lowered Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings raised Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Shinhan Financial Group 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.