Orbis Allan Gray Ltd Sells 45,170 Shares of KB Financial Group Inc $KB

Key Points

• Orbis Allan Gray Ltd reduced its stake in KB Financial Group by 11% during the first quarter, selling 45,170 shares and owning approximately 0.09% of the company valued at $19.86 million.
• Multiple institutional investors have adjusted their positions in KB Financial Group, with Wealth Enhancement Advisory Services LLC increasing its stake by 8.8% and Victory Capital Management Inc. increasing by 27.3% in the same period.
• KB Financial Group recently posted quarterly earnings of $3.16 per share, surpassing estimates, and declared a quarterly dividend of $0.657, representing an annual yield of 3.3%.

Orbis Allan Gray Ltd decreased its stake in KB Financial Group Inc (NYSE:KB - Free Report) by 11.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 366,962 shares of the bank's stock after selling 45,170 shares during the quarter. Orbis Allan Gray Ltd owned 0.09% of KB Financial Group worth $19,856,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vident Advisory LLC boosted its position in shares of KB Financial Group by 3.5% in the 1st quarter. Vident Advisory LLC now owns 63,170 shares of the bank's stock valued at $3,418,000 after purchasing an additional 2,157 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in KB Financial Group during the 1st quarter worth about $831,000. B. Metzler seel. Sohn & Co. AG boosted its position in KB Financial Group by 57.5% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 86,391 shares of the bank's stock worth $4,675,000 after acquiring an additional 31,554 shares during the period. Freedom Investment Management Inc. acquired a new stake in KB Financial Group during the 1st quarter worth about $221,000. Finally, Groupama Asset Managment boosted its position in KB Financial Group by 4.8% during the 1st quarter. Groupama Asset Managment now owns 19,118 shares of the bank's stock worth $1,020,000 after acquiring an additional 882 shares during the period. Institutional investors and hedge funds own 11.52% of the company's stock.

KB Financial Group Stock Down 1.8%

Shares of KB traded down $1.42 during midday trading on Thursday, reaching $78.06. 87,925 shares of the stock were exchanged, compared to its average volume of 193,522. KB Financial Group Inc has a 12-month low of $46.38 and a 12-month high of $92.39. The firm has a 50 day simple moving average of $81.83 and a 200-day simple moving average of $69.37. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 2.36. The company has a market cap of $29.77 billion, a price-to-earnings ratio of 7.50, a P/E/G ratio of 0.60 and a beta of 1.07.

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

KB Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 8th were paid a $0.657 dividend. This represents a $2.63 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 8th. KB Financial Group's dividend payout ratio (DPR) is presently 20.37%.

Analysts Set New Price Targets

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

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.