AIA Group Ltd Acquires Shares of 4,446 KB Home (NYSE:KBH)

Key Points

• AIA Group Ltd has established a new position in KB Home, acquiring 4,446 shares valued at approximately $258,000 during the first quarter.
• KB Home recently reported quarterly earnings of $1.50 per share, exceeding expectations, but showed a 10.5% year-over-year decrease in revenue at $1.53 billion.
• The company declared a quarterly dividend of $0.25, resulting in an annualized yield of 1.6%, with a payout ratio of 13.25%.

AIA Group Ltd purchased a new position in shares of KB Home (NYSE:KBH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,446 shares of the construction company's stock, valued at approximately $258,000.

A number of other hedge funds also recently modified their holdings of the business. Harbor Capital Advisors Inc. lifted its holdings in KB Home by 73.7% in the first quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock valued at $35,000 after buying an additional 258 shares during the period. Sachetta LLC increased its holdings in KB Home by 3,142.9% during the 1st quarter. Sachetta LLC now owns 681 shares of the construction company's stock worth $40,000 after acquiring an additional 660 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of KB Home in the 1st quarter worth $40,000. Byrne Asset Management LLC increased its holdings in shares of KB Home by 51.8% in the 1st quarter. Byrne Asset Management LLC now owns 774 shares of the construction company's stock worth $45,000 after buying an additional 264 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in shares of KB Home by 30.1% in the 1st quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock worth $56,000 after buying an additional 221 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company's stock.

Insider Activity at KB Home

In other news, COO Robert V. Mcgibney sold 14,000 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total value of $749,280.00. Following the transaction, the chief operating officer owned 78,345 shares of the company's stock, valued at approximately $4,193,024.40. The trade was a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.89% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays set a $49.00 target price on shares of KB Home and gave the company an "equal weight" rating in a report on Tuesday, June 24th. Bank of America dropped their price target on shares of KB Home from $58.00 to $54.00 and set a "neutral" rating for the company in a research report on Tuesday, June 24th. Evercore ISI dropped their price target on shares of KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Wells Fargo & Company reissued an "underweight" rating and set a $52.00 price target (down previously from $53.00) on shares of KB Home in a research report on Tuesday, June 24th. Finally, Wall Street Zen raised shares of KB Home from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $66.14.

KB Home Stock Down 0.2%

NYSE:KBH traded down $0.12 on Friday, reaching $62.91. 1,424,154 shares of the stock traded hands, compared to its average volume of 1,451,517. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 5.06 and a beta of 1.34. The company has a current ratio of 5.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.47. KB Home has a 12 month low of $48.90 and a 12 month high of $89.70. The company's fifty day simple moving average is $55.55 and its 200 day simple moving average is $56.88.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings data on Monday, June 23rd. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.05. KB Home had a net margin of 8.47% and a return on equity of 14.02%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm posted $2.15 earnings per share. The firm's revenue was down 10.5% compared to the same quarter last year. Equities analysts predict that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, August 7th. KB Home's payout ratio is 13.25%.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.