Acadian Asset Management LLC Sells 84,728 Shares of KB Financial Group Inc $KB

Key Points

• Acadian Asset Management LLC has reduced its stake in KB Financial Group by 40.6%, now holding 123,710 shares worth approximately $6.69 million after selling 84,728 shares.
• KB Financial Group reported earnings of $3.16 per share for the last quarter, exceeding analysts' expectations, along with a revenue of $3.32 billion.
• The company announced a quarterly dividend of $0.657 per share, representing an annualized yield of 3.1% and a payout ratio of 20.37%.

Acadian Asset Management LLC trimmed its stake in KB Financial Group Inc (NYSE:KB - Free Report) by 40.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 123,710 shares of the bank's stock after selling 84,728 shares during the quarter. Acadian Asset Management LLC's holdings in KB Financial Group were worth $6,691,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC lifted its stake in KB Financial Group by 141.8% in the first quarter. Bruce G. Allen Investments LLC now owns 926 shares of the bank's stock valued at $50,000 after buying an additional 543 shares during the last quarter. Cetera Investment Advisers lifted its stake in KB Financial Group by 7.4% in the fourth quarter. Cetera Investment Advisers now owns 3,759 shares of the bank's stock valued at $214,000 after buying an additional 258 shares during the last quarter. Cresset Asset Management LLC bought a new stake in KB Financial Group in the first quarter valued at $207,000. Perigon Wealth Management LLC bought a new stake in KB Financial Group in the first quarter valued at $214,000. Finally, Freedom Investment Management Inc. acquired a new position in shares of KB Financial Group during the first quarter valued at $221,000. 11.52% of the stock is currently owned by institutional investors.

KB Financial Group Stock Down 1.5%

Shares of KB Financial Group stock traded down $1.27 during trading on Tuesday, hitting $84.77. 117,592 shares of the stock traded hands, compared to its average volume of 191,233. The stock has a market cap of $32.34 billion, a P/E ratio of 8.14, a PEG ratio of 0.65 and a beta of 1.07. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.67 and a current ratio of 1.67. KB Financial Group Inc has a twelve month low of $46.38 and a twelve month high of $92.39. The company has a fifty day moving average price of $81.49 and a two-hundred day moving average price of $71.04.

KB Financial Group (NYSE:KB - Get Free Report) last posted its earnings results on Thursday, August 14th. The bank reported $3.16 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.01. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.20 billion. KB Financial Group had a return on equity of 9.79% and a net margin of 16.16%. Equities research analysts predict that KB Financial Group Inc will post 8.87 EPS for the current fiscal year.

KB Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 8th were given a $0.657 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.63 dividend on an annualized basis and a dividend yield of 3.1%. KB Financial Group's dividend payout ratio (DPR) is currently 20.37%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered KB Financial Group from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy".

KB Financial Group Profile

KB Financial Group Inc provides a range of banking and related financial services to consumers and corporations in South Korea, the United States, New Zealand, China, Cambodia, the United Kingdom, Indonesia, and internationally. The company operates through Retail Banking, Corporate Banking, Other Banking Services, Credit Card, Securities, Life Insurance, and Non-Life Insurance segments.