LPL Financial LLC Sells 3,329 Shares of Kennedy-Wilson Holdings Inc (NYSE:KW)

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LPL Financial LLC reduced its stake in Kennedy-Wilson Holdings Inc (NYSE:KW) by 5.0% during the second quarter, HoldingsChannel.com reports. The firm owned 63,350 shares of the financial services provider’s stock after selling 3,329 shares during the quarter. LPL Financial LLC’s holdings in Kennedy-Wilson were worth $1,303,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Cutter & CO Brokerage Inc. bought a new position in Kennedy-Wilson in the 2nd quarter valued at approximately $8,434,000. Victory Capital Management Inc. bought a new position in Kennedy-Wilson in the 1st quarter valued at approximately $8,506,000. Schroder Investment Management Group lifted its position in Kennedy-Wilson by 72.8% in the 2nd quarter. Schroder Investment Management Group now owns 931,224 shares of the financial services provider’s stock valued at $19,155,000 after acquiring an additional 392,355 shares in the last quarter. Copeland Capital Management LLC lifted its position in Kennedy-Wilson by 27.0% in the 2nd quarter. Copeland Capital Management LLC now owns 1,379,201 shares of the financial services provider’s stock valued at $28,370,000 after acquiring an additional 293,603 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Kennedy-Wilson by 141.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 493,428 shares of the financial services provider’s stock valued at $10,028,000 after acquiring an additional 289,451 shares in the last quarter. 81.29% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently issued reports on KW. ValuEngine cut Kennedy-Wilson from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. BTIG Research reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Kennedy-Wilson in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $26.51.

KW stock traded down $0.06 during midday trading on Thursday, hitting $22.53. The company’s stock had a trading volume of 6,708 shares, compared to its average volume of 393,451. The company has a market cap of $3.19 billion, a PE ratio of 17.23 and a beta of 1.13. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 4.02. The firm’s 50-day moving average is $21.38 and its 200-day moving average is $21.21. Kennedy-Wilson Holdings Inc has a 12 month low of $17.25 and a 12 month high of $22.75.

Kennedy-Wilson (NYSE:KW) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.08. The business had revenue of $143.70 million during the quarter, compared to analyst estimates of $160.05 million. Kennedy-Wilson had a net margin of 13.61% and a return on equity of 13.49%. The company’s quarterly revenue was down 34.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 30th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a yield of 3.73%.

In other Kennedy-Wilson news, General Counsel Kent Y. Mouton sold 30,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $20.56, for a total transaction of $616,800.00. Following the completion of the sale, the general counsel now directly owns 474,956 shares in the company, valued at approximately $9,765,095.36. The sale was disclosed in a document filed with the SEC, which is available through this link. 14.70% of the stock is currently owned by insiders.

About Kennedy-Wilson

Kennedy-Wilson Holdings, Inc is a global real estate investment company, which engages in the ownership, operation, and investment in real estate through its investment platform. It operates through the following business segments: KW Investments, and KW Investment Management and Real Estate Services (IMRES).

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

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