JPMorgan Chase & Co. Acquires 124,492 Shares of Kennedy-Wilson Holdings Inc. $KW

Key Points

• JPMorgan Chase & Co. increased its stake in Kennedy-Wilson by 11.8%, acquiring 124,492 shares to hold 1,183,187 shares (about 0.86% of the company) valued at roughly $9.84 million at quarter-end.
• Institutional ownership is very high at 87.72%, with other investors such as Van Den Berg Management boosting positions (now 974,334 shares) and several firms initiating or increasing stakes during the quarter.
• Analysts have a cautious view—MarketBeat shows a consensus rating of "Reduce" and an average target of $11 (JPMorgan reiterated an "underweight" with a $11 target), and the company also announced a quarterly dividend of $0.12 (≈4.4% yield).

JPMorgan Chase & Co. increased its stake in shares of Kennedy-Wilson Holdings Inc. (NYSE:KW - Free Report) by 11.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,183,187 shares of the financial services provider's stock after acquiring an additional 124,492 shares during the quarter. JPMorgan Chase & Co. owned about 0.86% of Kennedy-Wilson worth $9,844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in KW. CIBC Bancorp USA Inc. bought a new position in shares of Kennedy-Wilson in the 3rd quarter valued at about $107,000. Advisory Services Network LLC bought a new stake in Kennedy-Wilson during the third quarter worth approximately $71,000. Van Den Berg Management I Inc. lifted its stake in shares of Kennedy-Wilson by 21.9% in the 3rd quarter. Van Den Berg Management I Inc. now owns 974,334 shares of the financial services provider's stock valued at $8,106,000 after purchasing an additional 174,815 shares during the last quarter. Verition Fund Management LLC lifted its stake in shares of Kennedy-Wilson by 168.9% in the 3rd quarter. Verition Fund Management LLC now owns 109,189 shares of the financial services provider's stock valued at $908,000 after purchasing an additional 68,576 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Kennedy-Wilson in the 3rd quarter worth approximately $86,000. 87.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KW shares. JPMorgan Chase & Co. restated an "underweight" rating and set a $11.00 price target on shares of Kennedy-Wilson in a report on Thursday, December 18th. Weiss Ratings upgraded shares of Kennedy-Wilson from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $11.00.

Kennedy-Wilson Price Performance

KW opened at $10.94 on Friday. The business has a fifty day moving average of $10.46 and a 200 day moving average of $9.54. The stock has a market cap of $1.51 billion, a P/E ratio of -37.71 and a beta of 0.98. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 5.75. Kennedy-Wilson Holdings Inc. has a 52-week low of $5.98 and a 52-week high of $10.99.

Kennedy-Wilson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Tuesday, March 31st will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, March 31st. Kennedy-Wilson's payout ratio is -165.52%.

Kennedy-Wilson Company Profile

Kennedy-Wilson Holdings, Inc is a publicly traded global real estate investment company that acquires, develops and manages a diversified portfolio of properties. Its core activities include investing in office, multifamily, retail, industrial and self-storage assets while providing comprehensive property management, leasing, capital markets and investment management services to institutional and private clients.

Headquartered in Beverly Hills, California, Kennedy-Wilson operates through two principal business segments: Investments and Asset Services.

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