Beach Investment Counsel Inc. PA Reduces Holdings in Kennedy-Wilson Holdings, Inc. (NYSE:KW)

Beach Investment Counsel Inc. PA reduced its position in Kennedy-Wilson Holdings, Inc. (NYSE:KW - Free Report) by 41.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 241,282 shares of the financial services provider's stock after selling 169,723 shares during the quarter. Beach Investment Counsel Inc. PA owned about 0.17% of Kennedy-Wilson worth $2,094,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its holdings in Kennedy-Wilson by 26.6% in the 4th quarter. Deutsche Bank AG now owns 150,152 shares of the financial services provider's stock valued at $1,500,000 after acquiring an additional 31,580 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of 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 valued at $58,000 after purchasing an additional 3,755 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Kennedy-Wilson in the fourth quarter valued at approximately $151,000. Barclays PLC lifted its position in Kennedy-Wilson by 265.2% during the third quarter. Barclays PLC now owns 192,837 shares of the financial services provider's stock worth $2,130,000 after buying an additional 140,039 shares in the last quarter. Finally, abrdn plc boosted its stake in Kennedy-Wilson by 89.5% during the fourth quarter. abrdn plc now owns 43,013 shares of the financial services provider's stock worth $430,000 after buying an additional 20,314 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company's stock.

Insiders Place Their Bets

In related news, CEO William J. Mcmorrow acquired 200,000 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were acquired at an average price of $6.36 per share, with a total value of $1,272,000.00. Following the completion of the transaction, the chief executive officer now owns 8,049,517 shares of the company's stock, valued at $51,194,928.12. The trade was a 2.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Cathy Hendrickson sold 30,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.62, for a total value of $258,600.00. Following the completion of the sale, the director now owns 98,318 shares in the company, valued at approximately $847,501.16. The trade was a 23.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 20.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KW. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Kennedy-Wilson in a research note on Monday, February 24th. They set a "hold" rating and a $9.00 target price on the stock. Wall Street Zen upgraded shares of Kennedy-Wilson from a "sell" rating to a "hold" rating in a report on Friday.

Kennedy-Wilson Stock Up 1.5%

Shares of NYSE KW opened at $6.56 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 6.06. The business's 50 day moving average is $6.62 and its two-hundred day moving average is $8.60. Kennedy-Wilson Holdings, Inc. has a 52-week low of $5.98 and a 52-week high of $11.88. The firm has a market cap of $906.51 million, a price-to-earnings ratio of -2.54, a PEG ratio of 0.54 and a beta of 1.06.

Kennedy-Wilson (NYSE:KW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). Kennedy-Wilson had a negative net margin of 58.56% and a negative return on equity of 14.09%. The firm had revenue of $128.30 million during the quarter, compared to analyst estimates of $227.14 million. Research analysts predict that Kennedy-Wilson Holdings, Inc. will post 2.87 EPS for the current year.

Kennedy-Wilson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 30th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 7.32%. The ex-dividend date of this dividend is Monday, June 30th. Kennedy-Wilson's dividend payout ratio is currently -45.71%.

About Kennedy-Wilson

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.

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