Franklin Resources Inc. Lowers Stake in KE Holdings Inc. (NYSE:BEKE)

Franklin Resources Inc. reduced its position in shares of KE Holdings Inc. (NYSE:BEKE - Free Report) by 9.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 535,089 shares of the company's stock after selling 55,050 shares during the period. Franklin Resources Inc.'s holdings in KE were worth $9,856,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of KE during the 4th quarter valued at approximately $130,167,000. H Capital V GP L.P. purchased a new position in KE in the 4th quarter valued at approximately $91,147,000. WT Asset Management Ltd raised its holdings in KE by 1,761.8% during the fourth quarter. WT Asset Management Ltd now owns 2,327,198 shares of the company's stock worth $42,867,000 after purchasing an additional 2,202,198 shares during the last quarter. Carrhae Capital LLP purchased a new stake in KE during the fourth quarter worth $32,156,000. Finally, Lord Abbett & CO. LLC acquired a new stake in KE in the third quarter valued at $28,956,000. Institutional investors and hedge funds own 39.34% of the company's stock.

KE Trading Up 5.0 %

Shares of KE stock traded up $0.93 during trading hours on Monday, reaching $19.37. 2,202,441 shares of the company's stock were exchanged, compared to its average volume of 9,801,504. The firm has a market capitalization of $23.41 billion, a price-to-earnings ratio of 39.53, a price-to-earnings-growth ratio of 3.45 and a beta of -0.73. The company has a fifty day moving average of $20.82 and a 200-day moving average of $20.04. KE Holdings Inc. has a 52-week low of $12.49 and a 52-week high of $26.05.

Remove Ads

KE Increases Dividend

The business also recently disclosed a -- dividend, which will be paid on Friday, April 25th. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.36 per share. This is a positive change from KE's previous -- dividend of $0.17. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, April 9th. KE's dividend payout ratio is presently 64.58%.

Analyst Ratings Changes

Several research analysts have recently issued reports on BEKE shares. Jefferies Financial Group reaffirmed a "buy" rating on shares of KE in a research note on Tuesday, March 18th. UBS Group lowered shares of KE from a "buy" rating to a "neutral" rating and increased their price target for the company from $22.70 to $24.50 in a research report on Thursday, March 20th. Finally, Morgan Stanley lifted 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 research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.26.

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.