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

Key Points

• Pzena Investment Management LLC reduced its stake in Shinhan Financial Group by 4.7% in Q2, now holding over 1 million shares valued at approximately $46 million.
• Analysts have varied opinions on the stock, with Zacks downgrading it to a "hold" rating, while Weiss Ratings maintains a "buy" rating.
• Shinhan Financial Group has a current market cap of $23.94 billion and significant fluctuations in stock price, with a 12-month low of $28.76 and a high of $52.00.

Pzena Investment Management LLC cut its position in Shinhan Financial Group Co Ltd (NYSE:SHG - Free Report) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,027,646 shares of the bank's stock after selling 51,050 shares during the quarter. Pzena Investment Management LLC owned 0.21% of Shinhan Financial Group worth $46,429,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Northern Trust Corp grew its stake in Shinhan Financial Group by 3.9% during the 1st quarter. Northern Trust Corp now owns 1,501,208 shares of the bank's stock worth $48,159,000 after purchasing an additional 56,088 shares in the last quarter. American Century Companies Inc. raised its stake in Shinhan Financial Group by 6.9% during the 1st quarter. American Century Companies Inc. now owns 840,232 shares of the bank's stock valued at $26,955,000 after acquiring an additional 54,204 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Shinhan Financial Group by 10.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 617,210 shares of the bank's stock worth $19,800,000 after purchasing an additional 58,660 shares during the period. Millennium Management LLC increased its position in Shinhan Financial Group by 152.0% during the 1st quarter. Millennium Management LLC now owns 582,570 shares of the bank's stock worth $18,689,000 after purchasing an additional 351,413 shares during the period. Finally, Causeway Capital Management LLC grew its holdings in shares of Shinhan Financial Group by 56.6% in the 1st quarter. Causeway Capital Management LLC now owns 509,806 shares of the bank's stock worth $16,355,000 after acquiring an additional 184,167 shares during the period. 7.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Zacks Research cut Shinhan Financial Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 24th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Shinhan Financial Group in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered Shinhan Financial Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Shinhan Financial Group has an average rating of "Moderate Buy".

Shinhan Financial Group Stock Performance

Shares of NYSE SHG opened at $49.32 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.48. The stock has a 50 day simple moving average of $49.08 and a 200-day simple moving average of $43.55. The company has a market cap of $23.94 billion, a PE ratio of 4.94, a P/E/G ratio of 0.53 and a beta of 0.94. Shinhan Financial Group Co Ltd has a 12-month low of $28.76 and a 12-month high of $52.00.

Shinhan Financial Group Company Profile

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.

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