Thornburg Investment Management Inc. Trims Stake in KB Financial Group Inc (NYSE:KB)

Key Points

• Thornburg Investment Management Inc. reduced its stake in KB Financial Group by 22.8%, now holding 27,458 shares valued at approximately $1.49 million.
• Wall Street Zen upgraded KB Financial Group from a "hold" to a "buy" rating on May 21st.
• KB Financial Group's stock has a market cap of $30.36 billion and is currently trading at around $79.58, with a 12-month price range between $46.38 and $92.39.

Thornburg Investment Management Inc. lowered its position in shares of KB Financial Group Inc (NYSE:KB - Free Report) by 22.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,458 shares of the bank's stock after selling 8,130 shares during the period. Thornburg Investment Management Inc.'s holdings in KB Financial Group were worth $1,486,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC increased its holdings in shares of KB Financial Group by 141.8% in the first quarter. Bruce G. Allen Investments LLC now owns 926 shares of the bank's stock worth $50,000 after buying an additional 543 shares during the period. Tower Research Capital LLC TRC increased its holdings in KB Financial Group by 659.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,415 shares of the bank's stock valued at $137,000 after purchasing an additional 2,097 shares during the period. Cetera Investment Advisers increased its holdings in KB Financial Group by 7.4% during the 4th quarter. Cetera Investment Advisers now owns 3,759 shares of the bank's stock valued at $214,000 after purchasing an additional 258 shares during the period. Perigon Wealth Management LLC purchased a new position in KB Financial Group during the 1st quarter valued at about $214,000. Finally, Commonwealth Equity Services LLC purchased a new position in KB Financial Group during the 4th quarter valued at about $222,000. Institutional investors own 11.52% of the company's stock.

KB Financial Group Trading Down 1.9%

NYSE:KB traded down $1.52 during mid-day trading on Friday, reaching $77.63. 341,155 shares of the company's stock traded hands, compared to its average volume of 283,449. KB Financial Group Inc has a 12-month low of $46.38 and a 12-month high of $92.39. The firm has a market capitalization of $29.61 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 0.61 and a beta of 1.06. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.68 and a quick ratio of 1.68. The company has a 50 day moving average price of $80.71 and a 200-day moving average price of $66.29.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded KB Financial Group from a "hold" rating to a "buy" rating in a report on Saturday.

About KB Financial Group

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.