Shinhan Financial Group Co., Ltd. (NYSE:SHG) Stock Position Boosted by Pzena Investment Management LLC

Pzena Investment Management LLC lifted its position in shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG - Free Report) by 27.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,082,552 shares of the bank's stock after purchasing an additional 236,236 shares during the period. Pzena Investment Management LLC owned about 0.21% of Shinhan Financial Group worth $37,684,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in Shinhan Financial Group in the fourth quarter valued at $29,000. SageView Advisory Group LLC acquired a new stake in Shinhan Financial Group in the first quarter valued at $61,000. Allspring Global Investments Holdings LLC raised its holdings in Shinhan Financial Group by 42.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,290 shares of the bank's stock valued at $81,000 after acquiring an additional 678 shares in the last quarter. Janiczek Wealth Management LLC raised its holdings in Shinhan Financial Group by 25.2% in the first quarter. Janiczek Wealth Management LLC now owns 2,886 shares of the bank's stock valued at $103,000 after acquiring an additional 581 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in Shinhan Financial Group in the second quarter valued at $107,000. 7.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Shinhan Financial Group from a "buy" rating to a "hold" rating in a report on Thursday, June 6th.

Shinhan Financial Group Stock Performance

SHG stock traded down $0.04 during trading on Wednesday, hitting $41.99. 69,597 shares of the company's stock traded hands, compared to its average volume of 123,592. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.50. Shinhan Financial Group Co., Ltd. has a 52 week low of $25.09 and a 52 week high of $46.05. The stock has a fifty day moving average price of $40.00 and a two-hundred day moving average price of $36.09. The stock has a market capitalization of $21.39 billion, a price-to-earnings ratio of 6.93, a price-to-earnings-growth ratio of 0.75 and a beta of 0.92.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last released its earnings results on Friday, July 26th. The bank reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.19. The firm had revenue of $3.25 billion during the quarter. Shinhan Financial Group had a net margin of 12.23% and a return on equity of 7.16%. As a group, equities analysts anticipate that Shinhan Financial Group Co., Ltd. will post 6.22 EPS for the current fiscal year.

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.