Raymond James Financial Services Advisors Inc. lowered its stake in Kennedy-Wilson Holdings Inc (NYSE:KW) by 12.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 119,699 shares of the financial services provider’s stock after selling 16,669 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Kennedy-Wilson were worth $2,175,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of KW. Raymond James & Associates raised its stake in Kennedy-Wilson by 13.5% during the fourth quarter. Raymond James & Associates now owns 40,460 shares of the financial services provider’s stock worth $735,000 after purchasing an additional 4,816 shares during the period. BlackRock Inc. raised its stake in Kennedy-Wilson by 1.0% during the fourth quarter. BlackRock Inc. now owns 11,258,526 shares of the financial services provider’s stock worth $204,567,000 after purchasing an additional 108,000 shares during the period. PNC Financial Services Group Inc. raised its stake in Kennedy-Wilson by 135.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,812 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 2,195 shares during the period. Prudential Financial Inc. raised its stake in Kennedy-Wilson by 4.6% during the fourth quarter. Prudential Financial Inc. now owns 15,723 shares of the financial services provider’s stock worth $286,000 after purchasing an additional 698 shares during the period. Finally, Virginia Retirement Systems ET AL purchased a new position in Kennedy-Wilson during the fourth quarter worth about $1,784,000. 82.60% of the stock is owned by institutional investors and hedge funds.
Shares of KW opened at $21.02 on Friday. Kennedy-Wilson Holdings Inc has a 1-year low of $16.50 and a 1-year high of $22.27. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 11.88 and a beta of 1.36. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 3.78.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Friday, March 29th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Thursday, March 28th.
A number of equities analysts have commented on the stock. BTIG Research set a $33.00 target price on shares of Kennedy-Wilson and gave the stock a “buy” rating in a research note on Thursday, December 6th. JPMorgan Chase & Co. started coverage on shares of Kennedy-Wilson in a research note on Wednesday, December 19th. They set an “overweight” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Kennedy-Wilson currently has an average rating of “Buy” and an average target price of $26.75.
In other Kennedy-Wilson news, President Mary Ricks sold 10,700 shares of Kennedy-Wilson stock in a transaction dated Tuesday, January 8th. The shares were sold at an average price of $19.51, for a total transaction of $208,757.00. Following the completion of the sale, the president now directly owns 1,743,329 shares in the company, valued at $34,012,348.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard Aidan Hugh Boucher purchased 7,100 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $21.00 per share, with a total value of $149,100.00. Following the completion of the transaction, the director now owns 22,100 shares of the company’s stock, valued at $464,100. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 256,036 shares of company stock valued at $5,054,295. Company insiders own 14.58% 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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