Corebridge Financial Inc. Sells 4,007 Shares of KB Home $KBH

Key Points

• Corebridge Financial Inc. reduced its holdings in KB Home by 3.6%, owning 107,530 shares worth approximately $6.25 million after selling 4,007 shares.
• Several institutional investors, including Northern Trust Corp and Two Sigma Advisers LP, have recently increased their positions in KB Home, indicating a trend of growing interest from large investors.
• KB Home's stock has a current average rating of "Hold" with a consensus price target of $66.14, while the stock last traded at $63.50, reflecting ongoing challenges in the homebuilding sector.

Corebridge Financial Inc. lowered its stake in shares of KB Home (NYSE:KBH - Free Report) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,530 shares of the construction company's stock after selling 4,007 shares during the period. Corebridge Financial Inc. owned approximately 0.15% of KB Home worth $6,250,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of KB Home by 3.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,944 shares of the construction company's stock worth $1,392,000 after acquiring an additional 819 shares in the last quarter. Principal Financial Group Inc. grew its position in KB Home by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 208,222 shares of the construction company's stock worth $12,102,000 after purchasing an additional 902 shares in the last quarter. Bank of New York Mellon Corp grew its position in KB Home by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 763,666 shares of the construction company's stock worth $44,384,000 after purchasing an additional 6,856 shares in the last quarter. SG Americas Securities LLC grew its position in KB Home by 11.5% in the 1st quarter. SG Americas Securities LLC now owns 10,252 shares of the construction company's stock worth $596,000 after purchasing an additional 1,057 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in KB Home by 64.3% in the 1st quarter. GAMMA Investing LLC now owns 1,658 shares of the construction company's stock worth $96,000 after purchasing an additional 649 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on KBH shares. Oppenheimer assumed coverage on shares of KB Home in a research report on Wednesday. They set a "market perform" rating for the company. Bank of America reduced their target price 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 reduced their target price 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. UBS Group reduced their target price on shares of KB Home from $86.00 to $80.00 and set a "buy" rating for the company 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 research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $66.86.

Insider Activity at KB Home

In related news, COO Robert V. Mcgibney sold 14,000 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total transaction 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. This trade represents a 15.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.89% of the company's stock.

KB Home Price Performance

NYSE KBH traded up $1.08 on Wednesday, hitting $63.81. The stock had a trading volume of 445,094 shares, compared to its average volume of 1,469,318. KB Home has a 52-week low of $48.90 and a 52-week high of $89.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.60 and a current ratio of 5.83. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 5.11 and a beta of 1.36. The firm has a 50-day moving average of $58.06 and a 200-day moving average of $56.60.

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 for the quarter, beating the consensus estimate of $1.45 by $0.05. The firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.51 billion. KB Home had a net margin of 8.47% and a return on equity of 14.02%. The business's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company posted $2.15 EPS. Equities analysts expect that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. KB Home's dividend payout ratio (DPR) is currently 13.25%.

About KB Home

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.