Norges Bank Acquires Shares of 7,066,624 KE Holdings Inc. (NYSE:BEKE)

Norges Bank bought a new stake in KE Holdings Inc. (NYSE:BEKE) in the fourth quarter, Holdings Channel reports. The institutional investor bought 7,066,624 shares of the company’s stock, valued at approximately $130,167,000.

Several other hedge funds have also made changes to their positions in the business. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of KE during the fourth quarter worth $245,000. Carrhae Capital LLP purchased a new position in KE during the 4th quarter worth $32,156,000. Rovida Investment Management Ltd acquired a new stake in shares of KE in the 4th quarter worth $7,364,000. Taikang Asset Management Hong Kong Co Ltd boosted its holdings in shares of KE by 13.4% in the fourth quarter. Taikang Asset Management Hong Kong Co Ltd now owns 603,662 shares of the company’s stock valued at $11,119,000 after acquiring an additional 71,460 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of KE during the fourth quarter worth about $2,605,000. Institutional investors and hedge funds own 39.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BEKE. Jefferies Financial Group reaffirmed a “buy” rating on shares of KE in a report on Tuesday, March 18th. UBS Group downgraded KE from a “buy” rating to a “neutral” rating and lifted their price target for the company from $22.70 to $24.50 in a research note on Thursday, March 20th. Finally, Morgan Stanley increased their price objective on KE from $19.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.26.

KE Price Performance

NYSE BEKE opened at $20.11 on Tuesday. The business has a 50 day moving average price of $20.45 and a 200 day moving average price of $19.79. The company has a market capitalization of $24.30 billion, a P/E ratio of 41.05, a PEG ratio of 3.45 and a beta of -0.82. KE Holdings Inc. has a 1-year low of $12.49 and a 1-year high of $26.05.

KE Increases Dividend

The company also recently declared a — dividend, which will be paid on Friday, April 25th. Stockholders of record on Wednesday, April 9th will be paid a dividend of $0.36 per share. This represents a dividend yield of 1.4%. The ex-dividend date is Wednesday, April 9th. This is an increase from KE’s previous — dividend of $0.17. KE’s payout ratio is 64.58%.

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.