The Wells Fargo & Company MN Has $132,350,000 Position in KT Corp. (KT)

The Wells Fargo & Company MN Has $132,350,000 Position in KT Corp. (KT)

Wells Fargo & Company MN reduced its stake in shares of KT Corp. (NYSE:KT) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,246,106 shares of the company’s stock after selling 27,776 shares during the period. Wells Fargo & Company MN’s holdings in KT Corp. were worth $132,350,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. World Asset Management Inc increased its position in KT Corp. by 8.0% in the third quarter. World Asset Management Inc now owns 34,919 shares of the company’s stock valued at $560,000 after buying an additional 2,599 shares during the period. Lingohr & Partner Asset Management GmbH increased its position in KT Corp. by 80.8% in the third quarter. Lingohr & Partner Asset Management GmbH now owns 73,400 shares of the company’s stock valued at $1,178,000 after buying an additional 32,800 shares during the period. Boston Advisors LLC purchased a new position in KT Corp. during the third quarter valued at $993,000. Standard Life Investments LTD increased its position in KT Corp. by 133.6% in the third quarter. Standard Life Investments LTD now owns 2,234,430 shares of the company’s stock valued at $35,873,000 after buying an additional 1,277,711 shares during the period. Finally, Acadian Asset Management LLC increased its position in KT Corp. by 192.1% in the third quarter. Acadian Asset Management LLC now owns 4,321,468 shares of the company’s stock valued at $69,361,000 after buying an additional 2,842,230 shares during the period. Institutional investors and hedge funds own 18.64% of the company’s stock.

Shares of KT Corp. (NYSE:KT) opened at 13.95 on Thursday. The stock has a 50 day moving average price of $14.09 and a 200-day moving average price of $15.16. KT Corp. has a 52 week low of $10.81 and a 52 week high of $16.79. The firm has a market capitalization of $6.83 billion, a PE ratio of 16.27 and a beta of 0.50.

Separately, Zacks Investment Research downgraded KT Corp. from a “hold” rating to a “strong sell” rating in a research report on Friday, January 13th.

About KT Corp.

KT Corporation is a telecommunications service provider. The Company’s segments include the Customer/Marketing Group, the Finance Business Group and the Others Group. The Customer/Marketing Group segment is engaged in providing various telecommunication services to individual/home/corporate customers and the convergence business.

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