Punch & Associates Investment Management Inc. Buys 32,539 Shares of Kennedy-Wilson Holdings Inc. $KW

Key Points

• Punch & Associates Investment Management Inc. increased its holdings in Kennedy-Wilson Holdings Inc. by 2.6%, owning approximately 1.29 million shares valued at $11.2 million.
• Wall Street analyst ratings transitioned from a "sell" to a "buy" for Kennedy-Wilson, with an average target price set at $9.00.
• Kennedy-Wilson declared a quarterly dividend of $0.12, representing an annualized dividend of $0.48 and a yield of 5.5%.

Punch & Associates Investment Management Inc. lifted its stake in Kennedy-Wilson Holdings Inc. (NYSE:KW - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,291,042 shares of the financial services provider's stock after purchasing an additional 32,539 shares during the quarter. Punch & Associates Investment Management Inc. owned 0.93% of Kennedy-Wilson worth $11,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of KW. Northern Trust Corp raised its position in shares of Kennedy-Wilson by 18.2% in the 4th quarter. Northern Trust Corp now owns 1,572,013 shares of the financial services provider's stock worth $15,704,000 after purchasing an additional 241,943 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Kennedy-Wilson in the 1st quarter worth $1,600,000. ACR Alpine Capital Research LLC bought a new stake in shares of Kennedy-Wilson in the 1st quarter worth $985,000. GSA Capital Partners LLP increased its holdings in shares of Kennedy-Wilson by 233.1% in the 1st quarter. GSA Capital Partners LLP now owns 141,261 shares of the financial services provider's stock worth $1,226,000 after purchasing an additional 98,848 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Kennedy-Wilson in the 1st quarter worth $834,000. Hedge funds and other institutional investors own 87.72% of the company's stock.

Kennedy-Wilson Stock Performance

Shares of NYSE KW traded up $0.23 during midday trading on Thursday, hitting $9.12. 705,882 shares of the company's stock traded hands, compared to its average volume of 871,588. Kennedy-Wilson Holdings Inc. has a 1 year low of $5.98 and a 1 year high of $11.88. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -13.60, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a fifty day moving average of $7.89 and a 200 day moving average of $7.54.

Kennedy-Wilson (NYSE:KW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.10. Kennedy-Wilson had a negative net margin of 9.11% and a positive return on equity of 12.90%. The firm had revenue of $135.70 million during the quarter, compared to the consensus estimate of $229.98 million. On average, analysts forecast that Kennedy-Wilson Holdings Inc. will post 2.87 earnings per share for the current year.

Kennedy-Wilson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Kennedy-Wilson's payout ratio is currently -71.64%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Kennedy-Wilson from a "sell" rating to a "buy" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Kennedy-Wilson presently has an average rating of "Hold" and a consensus price target of $9.00.

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.