Northern Trust Corp Raises Position in Kennedy-Wilson Holdings, Inc. (NYSE:KW)

Northern Trust Corp raised its stake in Kennedy-Wilson Holdings, Inc. (NYSE:KW) by 18.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,572,013 shares of the financial services provider’s stock after buying an additional 241,943 shares during the quarter. Northern Trust Corp’s holdings in Kennedy-Wilson were worth $15,704,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of Kennedy-Wilson by 183.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 296,282 shares of the financial services provider’s stock worth $3,274,000 after purchasing an additional 191,790 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Kennedy-Wilson by 181.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,823 shares of the financial services provider’s stock worth $58,000 after buying an additional 3,755 shares during the last quarter. XTX Topco Ltd purchased a new stake in Kennedy-Wilson in the fourth quarter worth $151,000. Barclays PLC increased its holdings in Kennedy-Wilson by 265.2% in the 3rd quarter. Barclays PLC now owns 192,837 shares of the financial services provider’s stock worth $2,130,000 after acquiring an additional 140,039 shares during the last quarter. Finally, abrdn plc increased its holdings in Kennedy-Wilson by 89.5% in the 4th quarter. abrdn plc now owns 43,013 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 20,314 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

Kennedy-Wilson Stock Down 2.6%

Kennedy-Wilson stock opened at $6.25 on Thursday. Kennedy-Wilson Holdings, Inc. has a 1-year low of $6.09 and a 1-year high of $11.88. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -2.42, a P/E/G ratio of 0.54 and a beta of 1.07. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.06. The firm has a 50 day simple moving average of $7.45 and a 200 day simple moving average of $9.17.

Kennedy-Wilson (NYSE:KW) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). The company had revenue of $128.30 million during the quarter, compared to analysts’ expectations of $227.14 million. Kennedy-Wilson had a negative net margin of 58.56% and a negative return on equity of 14.09%. On average, analysts predict that Kennedy-Wilson Holdings, Inc. will post 2.87 earnings per share for the current year.

Kennedy-Wilson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 30th will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, June 30th. This represents a $0.48 annualized dividend and a yield of 7.68%. Kennedy-Wilson’s dividend payout ratio is currently -45.71%.

Insider Activity at Kennedy-Wilson

In other news, Director Cathy Hendrickson sold 30,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.62, for a total transaction of $258,600.00. Following the completion of the transaction, the director now owns 98,318 shares of the company’s stock, valued at approximately $847,501.16. The trade was a 23.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stanley R. Zax purchased 41,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was bought at an average cost of $8.56 per share, with a total value of $350,960.00. Following the purchase, the director now owns 547,400 shares in the company, valued at approximately $4,685,744. This represents a 8.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. 20.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on Kennedy-Wilson in a report on Monday, February 24th. They issued a “hold” rating and a $9.00 price objective for the company.

Kennedy-Wilson Profile

Kennedy-Wilson Holdings, Inc, together with its subsidiaries, 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 office properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy, and Japan.