Vanguard Group Inc. Sells 262,020 Shares of Kennedy-Wilson Holdings Inc. $KW

Key Points

• Vanguard Group Inc. has reduced its holdings in Kennedy-Wilson Holdings by 1.5%, now owning 17,043,072 shares valued at approximately $147.9 million.
• Institutional investors have shown mixed activity, with New York State Teachers Retirement System increasing its stake by 12.3%, while GAMMA Investing LLC boosted its stake by a significant 495.9% during the first quarter.
• Kennedy-Wilson recently announced a quarterly dividend of $0.12, which is set to be paid on October 9th, representing an annualized yield of 5.9%.

Vanguard Group Inc. reduced its stake in shares of Kennedy-Wilson Holdings Inc. (NYSE:KW - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,043,072 shares of the financial services provider's stock after selling 262,020 shares during the quarter. Vanguard Group Inc. owned approximately 9.96% of Kennedy-Wilson worth $147,934,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings in shares of Kennedy-Wilson by 822.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,643 shares of the financial services provider's stock worth $36,000 after purchasing an additional 3,248 shares during the period. Sherbrooke Park Advisers LLC acquired a new stake in shares of Kennedy-Wilson during the fourth quarter worth approximately $114,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Kennedy-Wilson during the first quarter worth approximately $131,000. Teacher Retirement System of Texas acquired a new stake in shares of Kennedy-Wilson during the first quarter worth approximately $139,000. Finally, XTX Topco Ltd acquired a new stake in shares of Kennedy-Wilson during the fourth quarter worth approximately $151,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Kennedy-Wilson Stock Performance

Shares of NYSE:KW traded up $0.02 during trading on Tuesday, reaching $8.45. The stock had a trading volume of 676,250 shares, compared to its average volume of 859,914. 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 capitalization of $1.17 billion, a price-to-earnings ratio of -12.61, a P/E/G ratio of 2.68 and a beta of 1.10. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 5.73. The stock has a fifty day simple moving average of $7.47 and a two-hundred day simple moving average of $7.54.

Kennedy-Wilson (NYSE:KW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.17 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 company had revenue of $135.70 million for the quarter, compared to analyst estimates of $229.98 million. As a group, analysts anticipate that Kennedy-Wilson Holdings Inc. will post 2.87 earnings per share for the current fiscal year.

Kennedy-Wilson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.7%. Kennedy-Wilson's dividend payout ratio (DPR) is currently -71.64%.

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.