Heartland Advisors Inc. Cuts Stake in Kennedy-Wilson Holdings (KW)

Heartland Advisors Inc. cut its stake in shares of Kennedy-Wilson Holdings (NYSE:KW) by 16.0% during the first quarter, HoldingsChannel.com reports. The firm owned 1,230,600 shares of the financial services provider’s stock after selling 234,700 shares during the quarter. Kennedy-Wilson makes up approximately 1.4% of Heartland Advisors Inc.’s portfolio, making the stock its 3rd largest holding. Heartland Advisors Inc.’s holdings in Kennedy-Wilson were worth $21,412,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in KW. Bank of Montreal Can raised its position in shares of Kennedy-Wilson by 452.4% during the fourth quarter. Bank of Montreal Can now owns 25,279 shares of the financial services provider’s stock worth $438,000 after purchasing an additional 20,703 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Kennedy-Wilson by 45.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 592,085 shares of the financial services provider’s stock worth $10,273,000 after purchasing an additional 186,235 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Kennedy-Wilson during the fourth quarter worth $210,000. SG Americas Securities LLC raised its position in shares of Kennedy-Wilson by 249.7% during the fourth quarter. SG Americas Securities LLC now owns 24,242 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 17,310 shares during the period. Finally, Financial & Investment Management Group Ltd. raised its position in shares of Kennedy-Wilson by 34.0% during the fourth quarter. Financial & Investment Management Group Ltd. now owns 712,052 shares of the financial services provider’s stock worth $12,354,000 after purchasing an additional 180,638 shares during the period. 88.28% of the stock is currently owned by institutional investors.

Shares of Kennedy-Wilson opened at $19.70 on Friday, Marketbeat.com reports. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 3.76. Kennedy-Wilson Holdings has a 1-year low of $15.95 and a 1-year high of $20.60. The firm has a market cap of $2.87 billion, a PE ratio of 43.78 and a beta of 1.27.

Kennedy-Wilson (NYSE:KW) last issued its earnings results on Thursday, February 22nd. The financial services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. Kennedy-Wilson had a return on equity of 2.66% and a net margin of 11.76%. The firm had revenue of $181.50 million for the quarter, compared to the consensus estimate of $181.56 million. equities research analysts anticipate that Kennedy-Wilson Holdings will post -0.17 EPS for the current year.

Kennedy-Wilson declared that its Board of Directors has approved a share 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other Kennedy-Wilson news, CFO Justin Enbody sold 17,290 shares of the business’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $16.87, for a total value of $291,682.30. Following the transaction, the chief financial officer now owns 300,116 shares in the company, valued at $5,062,956.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cathy Hendrickson sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $19.50, for a total value of $97,500.00. The disclosure for this sale can be found here. Insiders sold 236,950 shares of company stock worth $4,010,497 in the last 90 days. Corporate insiders own 14.58% of the company’s stock.

KW has been the topic of a number of research analyst reports. ValuEngine downgraded Kennedy-Wilson from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. JMP Securities upgraded 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 investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.00.

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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Institutional Ownership by Quarter for Kennedy-Wilson (NYSE:KW)

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