Amalgamated Bank grew its position in Kennedy-Wilson Holdings (NYSE:KW) by 56.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,389 shares of the financial services provider’s stock after acquiring an additional 5,887 shares during the period. Amalgamated Bank’s holdings in Kennedy-Wilson were worth $284,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Kennedy-Wilson by 66.3% during the 4th quarter. BlackRock Inc. now owns 9,216,126 shares of the financial services provider’s stock worth $159,899,000 after buying an additional 3,675,114 shares during the last quarter. Fiduciary Management Inc. WI lifted its stake in shares of Kennedy-Wilson by 31.7% during the 3rd quarter. Fiduciary Management Inc. WI now owns 3,286,505 shares of the financial services provider’s stock worth $60,965,000 after buying an additional 790,742 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Kennedy-Wilson by 2.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,494,169 shares of the financial services provider’s stock worth $46,267,000 after buying an additional 62,357 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Kennedy-Wilson by 15.2% during the 4th quarter. Mackenzie Financial Corp now owns 2,319,783 shares of the financial services provider’s stock worth $40,248,000 after buying an additional 306,401 shares during the last quarter. Finally, Real Estate Management Services LLC lifted its stake in shares of Kennedy-Wilson by 23.8% during the 4th quarter. Real Estate Management Services LLC now owns 1,738,000 shares of the financial services provider’s stock worth $30,154,000 after buying an additional 333,700 shares during the last quarter. 84.61% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on KW shares. JMP Securities upgraded shares of Kennedy-Wilson from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, March 9th. ValuEngine cut shares of Kennedy-Wilson from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Kennedy-Wilson currently has an average rating of “Hold” and a consensus price target of $26.00.
Kennedy-Wilson stock traded down $0.05 during midday trading on Friday, hitting $17.80. The company’s stock had a trading volume of 675,868 shares, compared to its average volume of 1,034,230. Kennedy-Wilson Holdings has a 1-year low of $15.95 and a 1-year high of $22.65. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 3.59. The stock has a market capitalization of $2,688.33, a price-to-earnings ratio of 39.56 and a beta of 1.29.
Kennedy-Wilson (NYSE:KW) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.09. Kennedy-Wilson had a net margin of 12.40% and a return on equity of 4.01%. The business had revenue of $181.50 million during the quarter, compared to analysts’ expectations of $181.56 million. sell-side analysts anticipate that Kennedy-Wilson Holdings will post -0.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 5th. Shareholders of record on Thursday, March 29th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Wednesday, March 28th. Kennedy-Wilson’s dividend payout ratio is currently 168.89%.
Kennedy-Wilson announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 20th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other Kennedy-Wilson news, CFO Justin Enbody sold 17,290 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $16.87, for a total value of $291,682.30. Following the transaction, the chief financial officer now directly owns 300,116 shares of the company’s stock, valued at approximately $5,062,956.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Kent Y. Mouton sold 24,350 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $16.87, for a total transaction of $410,784.50. Following the completion of the transaction, the general counsel now directly owns 424,128 shares in the company, valued at $7,155,039.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 231,950 shares of company stock worth $3,912,997. Insiders own 17.07% of the company’s stock.
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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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