NewEdge Wealth LLC Trims Stock Holdings in KB Financial Group Inc $KB

NewEdge Wealth LLC lowered its holdings in KB Financial Group Inc (NYSE:KB) by 17.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,684 shares of the bank’s stock after selling 13,987 shares during the period. NewEdge Wealth LLC’s holdings in KB Financial Group were worth $6,551,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in KB Financial Group during the 1st quarter valued at $300,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of KB Financial Group during the first quarter worth $259,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of KB Financial Group by 53.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,650 shares of the bank’s stock worth $5,230,000 after acquiring an additional 33,650 shares during the period. Jane Street Group LLC boosted its holdings in shares of KB Financial Group by 64.3% in the first quarter. Jane Street Group LLC now owns 26,136 shares of the bank’s stock worth $1,414,000 after acquiring an additional 10,225 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of KB Financial Group by 66.4% in the second quarter. Cetera Investment Advisers now owns 8,584 shares of the bank’s stock valued at $709,000 after purchasing an additional 3,425 shares in the last quarter. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KB. Weiss Ratings reiterated a “buy (b)” rating on shares of KB Financial Group in a research note on Wednesday, June 24th. Wall Street Zen lowered KB Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of KB Financial Group in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

KB Financial Group Stock Up 1.3%

Shares of NYSE:KB opened at $120.44 on Friday. The firm has a fifty day moving average price of $108.61 and a two-hundred day moving average price of $104.76. The company has a market cap of $42.72 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 0.79 and a beta of 1.01. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.64 and a quick ratio of 1.64. KB Financial Group Inc has a one year low of $76.31 and a one year high of $125.62.

KB Financial Group (NYSE:KB) last released its quarterly earnings results on Tuesday, March 31st. The bank reported $2.16 earnings per share for the quarter. KB Financial Group had a net margin of 17.36% and a return on equity of 9.99%. The firm had revenue of $3.49 billion for the quarter. Analysts anticipate that KB Financial Group Inc will post 12.02 EPS for the current fiscal year.

About KB Financial Group

KB Financial Group Inc is a South Korea-based financial holding company that offers a broad range of banking and financial services. Headquartered in Seoul and listed on the New York Stock Exchange under the ticker KB, the group operates through a set of specialized subsidiaries to provide integrated financial solutions for retail, corporate and institutional clients.

The company’s principal businesses include retail and corporate banking, securities and investment banking, insurance (life and non-life), asset management, credit card and consumer finance, and leasing.