Is KB Financial Group (KB) Trading at a Discount?

Ariel Investments, an investment management company, released its “Ariel Global Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the Ariel Global fund returned +8.40% gross of fees (+8.18% net of fees), compared to the MSCI ACWI Index’s +11.03%, and the MSCI ACWI Value Index’s +9.17% gains. The fund appreciated +13.96% gross of fees (+13.06% net of fees) over the trailing year, underperforming the MSCI ACWI Index’s +22.20% return and ahead of the MSCI ACWI Value Index’s +11.81% return. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Ariel Global Fund featured stocks like KB Financial Group Inc. (NYSE:KB) in the fourth quarter 2023 investor letter. Headquartered in Seoul, South Korea, KB Financial Group Inc. (NYSE:KB) provides a range of banking and related financial services. On March 22, 2024, KB Financial Group Inc. (NYSE:KB) stock closed at $55.54 per share. One-month return of KB Financial Group Inc. (NYSE:KB) was 19.34%, and its shares gained 53.09% of their value over the last 52 weeks. KB Financial Group Inc. (NYSE:KB) has a market capitalization of $21.227 billion.

Ariel Global Fund stated the following regarding KB Financial Group Inc. (NYSE:KB) in its fourth quarter 2023 investor letter:

“We added Korea’s largest financial company in terms of assets and customer base, KB Financial Group Inc. (NYSE:KB). We believe the company’s strong and stable diversified profit structure and industry leading shareholder returns are well supported by its various business lines and subsidiaries. At current levels, KB Financial is trading at a significant discount to our estimate of private market value.”

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KB Financial Group Inc. (NYSE:KB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, KB Financial Group Inc. (NYSE:KB) was held by 15 hedge fund portfolios, compared to 12 in the previous quarter, according to our database.

We discussed KB Financial Group Inc. (NYSE:KB) in another article and shared the list of most undervalued bank stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.

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