Allianz SE Buys New Holdings in SK Telecom Co., Ltd. (NYSE:SKM)

Allianz SE purchased a new position in SK Telecom Co., Ltd. (NYSE:SKM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,133 shares of the Wireless communications provider’s stock, valued at approximately $1,076,000.

A number of other hedge funds have also recently added to or reduced their stakes in SKM. Robeco Institutional Asset Management B.V. grew its holdings in shares of SK Telecom by 24.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider’s stock valued at $61,827,000 after buying an additional 583,519 shares during the last quarter. Meritage Portfolio Management boosted its stake in SK Telecom by 24.5% during the 4th quarter. Meritage Portfolio Management now owns 222,170 shares of the Wireless communications provider’s stock valued at $4,674,000 after purchasing an additional 43,778 shares during the last quarter. DGS Capital Management LLC increased its holdings in SK Telecom by 14.7% during the 3rd quarter. DGS Capital Management LLC now owns 212,324 shares of the Wireless communications provider’s stock worth $5,047,000 after purchasing an additional 27,173 shares in the last quarter. State Street Corp raised its stake in shares of SK Telecom by 1.4% in the third quarter. State Street Corp now owns 209,485 shares of the Wireless communications provider’s stock worth $4,979,000 after purchasing an additional 2,883 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of SK Telecom by 13.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 200,931 shares of the Wireless communications provider’s stock valued at $4,228,000 after purchasing an additional 23,091 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group downgraded SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. StockNews.com downgraded shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, UBS Group initiated coverage on shares of SK Telecom in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, SK Telecom has a consensus rating of “Hold”.

SK Telecom Stock Performance

Shares of SK Telecom stock opened at $21.14 on Monday. The business’s fifty day simple moving average is $21.65 and its 200 day simple moving average is $22.29. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48. SK Telecom Co., Ltd. has a 12 month low of $19.88 and a 12 month high of $24.58. The firm has a market capitalization of $8.32 billion, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 1.27 and a beta of 0.77.

SK Telecom (NYSE:SKM) last released its earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 EPS for the quarter. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. As a group, analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.