Royal London Asset Management Ltd. Takes Position in KE Holdings Inc. (NYSE:BEKE)

Royal London Asset Management Ltd. purchased a new stake in KE Holdings Inc. (NYSE:BEKE) in the second quarter, Holdings Channel reports. The firm purchased 1,077,600 shares of the company’s stock, valued at approximately $15,248,000.

A number of other large investors have also made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in KE by 2,662.2% in the second quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after acquiring an additional 3,168 shares during the last quarter. Parallel Advisors LLC lifted its holdings in KE by 90.4% in the fourth quarter. Parallel Advisors LLC now owns 3,304 shares of the company’s stock valued at $54,000 after acquiring an additional 1,569 shares during the last quarter. Barometer Capital Management Inc. acquired a new position in KE in the fourth quarter valued at approximately $123,000. Signaturefd LLC lifted its holdings in KE by 12.5% in the second quarter. Signaturefd LLC now owns 7,781 shares of the company’s stock valued at $110,000 after acquiring an additional 866 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in KE by 33.3% in the fourth quarter. Quadrant Capital Group LLC now owns 10,778 shares of the company’s stock valued at $175,000 after acquiring an additional 2,693 shares during the last quarter. 39.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BEKE shares. Barclays upped their price objective on KE from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Citigroup began coverage on KE in a research note on Tuesday. They set a “buy” rating and a $23.80 price target on the stock.

KE Stock Down 3.7 %

NYSE:BEKE opened at $13.59 on Friday. The stock’s fifty day moving average is $14.43 and its two-hundred day moving average is $14.88. KE Holdings Inc. has a 52 week low of $12.44 and a 52 week high of $20.48. The stock has a market capitalization of $16.76 billion, a price-to-earnings ratio of 33.15, a price-to-earnings-growth ratio of 3.24 and a beta of -0.74.

KE (NYSE:BEKE) last released its quarterly earnings results on Monday, August 12th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $2.06. The company had revenue of $23.37 billion for the quarter, compared to analysts’ expectations of $21.51 billion. KE had a return on equity of 6.74% and a net margin of 5.32%. The firm’s revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. On average, sell-side analysts expect that KE Holdings Inc. will post 0.68 EPS for the current fiscal year.

KE 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.