Cetera Investment Advisers Grows Holdings in KB Financial Group Inc $KB

Key Points

• Cetera Investment Advisers more than doubled its KB Financial Group position in the first quarter, increasing holdings by 127.8% to 23,461 shares valued at approximately $2.34 million.
• Other major investors, including Morgan Stanley, Bank of America and Capital International Investors, also increased their stakes. Institutional investors collectively own 11.52% of KB Financial Group.
• Analyst sentiment is positive, with KB Financial Group receiving an average “Buy” rating. Shares recently rose 2.2% to $123.97, near the company’s 52-week high of $125.66.

Cetera Investment Advisers raised its holdings in shares of KB Financial Group Inc (NYSE:KB - Free Report) by 127.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,461 shares of the bank's stock after purchasing an additional 13,164 shares during the quarter. Cetera Investment Advisers' holdings in KB Financial Group were worth $2,340,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Morgan Stanley increased its stake in KB Financial Group by 4.0% in the 4th quarter. Morgan Stanley now owns 1,080,052 shares of the bank's stock worth $92,928,000 after buying an additional 41,587 shares during the period. Bank of America Corp DE boosted its position in KB Financial Group by 4.3% in the 3rd quarter. Bank of America Corp DE now owns 882,277 shares of the bank's stock valued at $73,150,000 after buying an additional 36,710 shares during the period. Capital International Investors boosted its position in KB Financial Group by 0.6% in the 4th quarter. Capital International Investors now owns 761,913 shares of the bank's stock valued at $65,637,000 after buying an additional 4,745 shares during the period. M&T Bank Corp bought a new position in KB Financial Group in the 4th quarter worth about $36,964,000. Finally, Orbis Allan Gray Ltd grew its stake in KB Financial Group by 4.0% in the 4th quarter. Orbis Allan Gray Ltd now owns 378,785 shares of the bank's stock worth $32,591,000 after acquiring an additional 14,637 shares in the last quarter. 11.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Zacks Research raised shares of KB Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Weiss Ratings restated a "buy (b)" rating on shares of KB Financial Group in a report on Wednesday, June 24th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of KB Financial Group in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat.com, KB Financial Group has an average rating of "Buy".

KB Financial Group Stock Up 2.2%

Shares of KB Financial Group stock opened at $123.97 on Friday. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market cap of $43.97 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 0.74 and a beta of 1.01. The firm's 50-day moving average is $111.97 and its two-hundred day moving average is $107.07. KB Financial Group Inc has a 1 year low of $76.31 and a 1 year high of $125.66.

KB Financial Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source