LPL Financial LLC grew its stake in shares of Kennedy-Wilson Holdings (NYSE:KW) by 27.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,207 shares of the financial services provider’s stock after buying an additional 14,075 shares during the quarter. LPL Financial LLC’s holdings in Kennedy-Wilson were worth $1,149,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of Kennedy-Wilson during the third quarter worth $129,000. Ellington Management Group LLC acquired a new position in shares of Kennedy-Wilson during the fourth quarter worth $180,000. Wayne Hummer Investments L.L.C. acquired a new position in shares of Kennedy-Wilson during the fourth quarter worth $187,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Kennedy-Wilson by 160.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,952 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 6,740 shares during the period. Finally, ING Groep NV acquired a new position in shares of Kennedy-Wilson during the fourth quarter worth $201,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on KW. ValuEngine lowered shares of Kennedy-Wilson from a “sell” rating to a “strong sell” rating in a report on Monday, April 2nd. JMP Securities upgraded shares of Kennedy-Wilson from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Friday, March 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.00.
Kennedy-Wilson (NYSE:KW) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $181.50 million for the quarter, compared to analyst estimates of $181.56 million. Kennedy-Wilson had a net margin of 12.40% and a return on equity of 4.01%. equities analysts anticipate that Kennedy-Wilson Holdings will post -0.17 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 5th. Investors of record on Thursday, March 29th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $0.76 annualized dividend and a yield of 4.27%. Kennedy-Wilson’s payout ratio is 168.89%.
Kennedy-Wilson declared that its board has initiated a stock repurchase plan on Tuesday, March 20th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, General Counsel Kent Y. Mouton sold 24,350 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $16.87, for a total value of $410,784.50. Following the transaction, the general counsel now owns 424,128 shares in the company, valued at $7,155,039.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Justin Enbody sold 17,290 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $16.87, for a total transaction of $291,682.30. Following the completion of the transaction, the chief financial officer now owns 300,116 shares in the company, valued at approximately $5,062,956.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 231,950 shares of company stock worth $3,912,997. 17.07% of the stock is owned by company insiders.
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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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