324,885 Shinhan Financial Group Co Ltd $SHG Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC reduced its stake in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 48.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 344,589 shares of the bank’s stock after selling 324,885 shares during the quarter. Pzena Investment Management LLC’s holdings in Shinhan Financial Group were worth $26,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. lifted its position in shares of Shinhan Financial Group by 1,389.1% during the 3rd quarter. Mather Group LLC. now owns 819 shares of the bank’s stock valued at $64,000 after acquiring an additional 764 shares during the period. WealthCollab LLC grew its holdings in shares of Shinhan Financial Group by 19.2% in the 1st quarter. WealthCollab LLC now owns 1,635 shares of the bank’s stock worth $100,000 after acquiring an additional 263 shares during the period. Piedmont Capital Management LLC NC acquired a new stake in shares of Shinhan Financial Group in the 3rd quarter worth approximately $201,000. Rockefeller Capital Management L.P. grew its holdings in shares of Shinhan Financial Group by 273.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,657 shares of the bank’s stock worth $143,000 after acquiring an additional 1,946 shares during the period. Finally, Angeles Wealth Management LLC purchased a new position in Shinhan Financial Group in the 3rd quarter valued at approximately $212,000. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Shinhan Financial Group Stock Performance

NYSE:SHG opened at $63.11 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.45. The firm has a 50-day moving average price of $75.56 and a two-hundred day moving average price of $68.72. Shinhan Financial Group Co Ltd has a twelve month low of $51.59 and a twelve month high of $85.57. The company has a market capitalization of $29.63 billion, a P/E ratio of 8.43, a price-to-earnings-growth ratio of 0.45 and a beta of 1.07.

Shinhan Financial Group (NYSE:SHG) last announced its earnings results on Friday, August 14th. The bank reported $2.26 earnings per share (EPS) for the quarter. Shinhan Financial Group had a net margin of 15.68% and a return on equity of 8.81%. The company had revenue of $2.96 billion during the quarter. As a group, research analysts expect that Shinhan Financial Group Co Ltd will post 9.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SHG has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a report on Friday, August 14th. Zacks Research upgraded Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Finally, Wall Street Zen lowered Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. is a South Korean financial holding company headquartered in Seoul. Established in 2001, the group operates through subsidiaries that provide a broad range of financial products and services to individuals, businesses and institutional customers.

Its principal businesses include commercial and retail banking through Shinhan Bank; credit card and payment services through Shinhan Card; securities brokerage, investment banking and wealth management through Shinhan Securities; and insurance, consumer finance, leasing and asset-management services through other group affiliates.

Shinhan serves customers primarily in South Korea and maintains an international presence across markets in Asia, North America and other regions.