Handelsbanken Fonder AB Sells 41,424 Shares of KE Holdings Inc. (NYSE:BEKE)

Handelsbanken Fonder AB reduced its stake in shares of KE Holdings Inc. (NYSE:BEKE - Free Report) by 10.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,833 shares of the company's stock after selling 41,424 shares during the quarter. Handelsbanken Fonder AB's holdings in KE were worth $7,149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BEKE. Vontobel Holding Ltd. lifted its holdings in KE by 3,315.0% during the 4th quarter. Vontobel Holding Ltd. now owns 944,667 shares of the company's stock worth $17,401,000 after buying an additional 917,005 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new stake in shares of KE during the fourth quarter worth $708,000. Rhumbline Advisers lifted its stake in shares of KE by 10.8% during the fourth quarter. Rhumbline Advisers now owns 95,376 shares of the company's stock valued at $1,757,000 after acquiring an additional 9,330 shares during the period. C WorldWide Group Holding A S lifted its stake in shares of KE by 2,639.9% during the fourth quarter. C WorldWide Group Holding A S now owns 969,694 shares of the company's stock valued at $17,862,000 after acquiring an additional 934,302 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in KE by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,077,371 shares of the company's stock valued at $19,845,000 after acquiring an additional 82,856 shares during the last quarter. Institutional investors and hedge funds own 39.34% of the company's stock.

KE Price Performance

Shares of KE stock traded down $0.43 during trading on Friday, hitting $18.56. 47,443,315 shares of the company were exchanged, compared to its average volume of 9,488,684. The firm has a market capitalization of $22.43 billion, a P/E ratio of 37.88, a price-to-earnings-growth ratio of 3.45 and a beta of -0.76. The firm's fifty day moving average price is $19.29 and its 200 day moving average price is $19.45. KE Holdings Inc. has a 1-year low of $12.92 and a 1-year high of $26.05.

KE Increases Dividend

The company also recently announced a -- dividend, which was paid on Friday, April 25th. Shareholders of record on Wednesday, April 9th were paid a $0.36 dividend. This represents a yield of 1.4%. The ex-dividend date was Wednesday, April 9th. This is an increase from KE's previous -- dividend of $0.17. KE's dividend payout ratio is presently 58.49%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BEKE. Morgan Stanley upped their target price on shares of KE from $19.00 to $27.00 and gave the company an "overweight" rating in a research report on Wednesday, March 19th. Jefferies Financial Group reissued a "buy" rating on shares of KE in a research note on Tuesday, March 18th. Citigroup cut their price objective on shares of KE from $25.80 to $24.80 and set a "buy" rating on the stock in a report on Friday, May 16th. Finally, UBS Group raised shares of KE from a "neutral" rating to a "buy" rating and raised their price objective for the company from $22.10 to $23.00 in a research note on Friday, May 16th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $27.16.

About KE

KE Holdings Inc, through its subsidiaries, engages in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China. It operates through four segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, and Emerging and Other Services.