Trinity Street Asset Management LLP Boosts Stake in KB Financial Group Inc $KB

Key Points

• Trinity Street Asset Management increased its KB Financial Group stake by 141.4% in the second quarter, ending with 146,667 shares valued at approximately $15.4 million.
• Other institutional investors also added to or initiated positions, bringing total hedge fund and institutional ownership to 11.52% of KB Financial Group’s stock.
• Analyst sentiment is positive: KB Financial Group has a consensus “Buy” rating, while the stock recently traded at $118.10, near its 52-week high of $125.66.

Trinity Street Asset Management LLP grew its position in shares of KB Financial Group Inc (NYSE:KB - Free Report) by 141.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,667 shares of the bank's stock after buying an additional 85,904 shares during the quarter. KB Financial Group accounts for approximately 0.8% of Trinity Street Asset Management LLP's investment portfolio, making the stock its 21st biggest holding. Trinity Street Asset Management LLP's holdings in KB Financial Group were worth $15,394,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Gradient Investments LLC increased its position in shares of KB Financial Group by 5.7% during the second quarter. Gradient Investments LLC now owns 52,942 shares of the bank's stock valued at $5,557,000 after acquiring an additional 2,869 shares during the last quarter. 55 North Private Wealth LLC bought a new stake in KB Financial Group during the second quarter worth $283,000. Foster Group Inc. lifted its holdings in KB Financial Group by 18.9% during the second quarter. Foster Group Inc. now owns 4,487 shares of the bank's stock worth $471,000 after acquiring an additional 713 shares during the period. GK Wealth Management LLC purchased a new position in KB Financial Group in the second quarter worth $469,000. Finally, GAMMA Investing LLC boosted its position in KB Financial Group by 80.3% in the second quarter. GAMMA Investing LLC now owns 4,874 shares of the bank's stock worth $512,000 after purchasing an additional 2,170 shares during the last quarter. Hedge funds and other institutional investors own 11.52% of the company's stock.

Analyst Ratings Changes

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

KB Financial Group Stock Performance

NYSE:KB opened at $118.10 on Thursday. 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 business has a fifty day simple moving average of $112.88 and a two-hundred day simple moving average of $107.75. KB Financial Group Inc has a 1 year low of $76.31 and a 1 year high of $125.66. The company has a market capitalization of $41.89 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.71 and a beta of 1.01.

KB Financial Group 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.

Want to see what other hedge funds are holding KB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KB Financial Group Inc (NYSE:KB - Free Report).

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