California Public Employees Retirement System reduced its stake in shares of Kennedy-Wilson Holdings Inc (NYSE:KW) by 8.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 275,998 shares of the financial services provider’s stock after selling 24,620 shares during the period. California Public Employees Retirement System owned 0.19% of Kennedy-Wilson worth $4,802,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Great West Life Assurance Co. Can lifted its stake in shares of Kennedy-Wilson by 29.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 18,752 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 4,217 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Kennedy-Wilson by 7.7% in the 1st quarter. BlackRock Inc. now owns 9,927,919 shares of the financial services provider’s stock valued at $172,747,000 after purchasing an additional 711,793 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Kennedy-Wilson by 4.0% in the 1st quarter. Northern Trust Corp now owns 2,212,491 shares of the financial services provider’s stock valued at $38,498,000 after purchasing an additional 85,395 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Kennedy-Wilson by 15.2% in the 1st quarter. Neuberger Berman Group LLC now owns 106,142 shares of the financial services provider’s stock valued at $1,847,000 after purchasing an additional 14,032 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in shares of Kennedy-Wilson by 115.8% in the 1st quarter. Aperio Group LLC now owns 30,787 shares of the financial services provider’s stock valued at $536,000 after purchasing an additional 16,522 shares during the last quarter. Institutional investors and hedge funds own 88.45% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Deutsche Bank lifted their price objective on shares of Kennedy-Wilson from $22.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday. ValuEngine raised shares of Kennedy-Wilson from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Finally, JMP Securities raised shares of Kennedy-Wilson from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Friday, March 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $27.00.
KW stock opened at $21.30 on Thursday. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.01 and a quick ratio of 1.01. Kennedy-Wilson Holdings Inc has a 1 year low of $15.95 and a 1 year high of $21.55. The firm has a market capitalization of $3.05 billion, a P/E ratio of 47.33 and a beta of 1.28.
Kennedy-Wilson (NYSE:KW) last released its earnings results on Wednesday, May 2nd. The financial services provider reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.08. The firm had revenue of $190.70 million during the quarter, compared to analyst estimates of $184.01 million. Kennedy-Wilson had a net margin of 11.76% and a return on equity of 2.66%. The business’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 5th. Shareholders of record on Friday, June 29th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Thursday, June 28th. Kennedy-Wilson’s dividend payout ratio is 168.89%.
Kennedy-Wilson declared that its Board of Directors has approved a share buyback plan on Tuesday, March 20th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
In other Kennedy-Wilson news, Director Cathy Hendrickson sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $20.64, for a total transaction of $103,200.00. Following the completion of the transaction, the director now owns 68,218 shares of the company’s stock, valued at approximately $1,408,019.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.58% of the stock is owned by insiders.
Kennedy-Wilson Company Profile
Kennedy-Wilson Holdings, Inc operates as a real estate investment company. The company owns, operates, and invests in real estate both on its own and through its investment management platform. It focuses on multifamily and commercial properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy, and Japan.
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