The Manufacturers Life Insurance Company Sells 1,539,798 Shares of KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• The Manufacturers Life Insurance Company reduced its stake in KE Holdings Inc. by 54.7%, owning approximately $25.58 million in shares at the end of the most recent quarter.
• Multiple hedge funds have made recent investments in KE, with institutional investors now holding 39.34% of the company's stock.
• Analysts have mixed views on KE Holdings, with price targets ranging from $22.00 to $25.00, reflecting a consensus rating of "Buy."

The Manufacturers Life Insurance Company lessened its stake in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 54.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,273,057 shares of the company's stock after selling 1,539,798 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.11% of KE worth $25,576,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in BEKE. First Trust Advisors LP acquired a new position in KE during the fourth quarter valued at approximately $233,000. Stifel Financial Corp acquired a new position in KE in the 4th quarter valued at $209,000. Voya Investment Management LLC grew its stake in KE by 30.8% in the 4th quarter. Voya Investment Management LLC now owns 46,276 shares of the company's stock valued at $852,000 after buying an additional 10,889 shares during the last quarter. Northern Trust Corp raised its holdings in KE by 180.1% in the 4th quarter. Northern Trust Corp now owns 3,699,677 shares of the company's stock worth $68,148,000 after acquiring an additional 2,378,858 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in KE by 253.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,333,337 shares of the company's stock worth $24,560,000 after acquiring an additional 956,476 shares during the last quarter. 39.34% of the stock is owned by institutional investors.

KE Price Performance

Shares of NYSE BEKE traded up $0.43 during trading hours on Friday, reaching $18.99. The stock had a trading volume of 6,292,348 shares, compared to its average volume of 8,484,653. The company has a market cap of $22.62 billion, a price-to-earnings ratio of 40.41, a PEG ratio of 2.24 and a beta of -0.76. KE Holdings Inc. Sponsored ADR has a twelve month low of $13.28 and a twelve month high of $26.05. The business's fifty day moving average is $18.36 and its two-hundred day moving average is $19.49.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wall Street Zen downgraded KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Citigroup lowered their target price on KE from $25.80 to $24.80 and set a "buy" rating on the stock in a report on Friday, May 16th. Jefferies Financial Group set a $22.00 price target on KE and gave the stock a "buy" rating in a report on Tuesday, August 26th. Barclays reduced their price objective on KE from $33.00 to $25.00 and set an "overweight" rating for the company in a research report on Friday, August 15th. Finally, JPMorgan Chase & Co. dropped their target price on shares of KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $24.54.

KE Company Profile

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.