Principal Financial Group Inc. Increases Holdings in Kennedy-Wilson Holdings Inc. (NYSE:KW)

Principal Financial Group Inc. increased its holdings in Kennedy-Wilson Holdings Inc. (NYSE:KW) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 588,232 shares of the financial services provider’s stock after purchasing an additional 15,379 shares during the period. Principal Financial Group Inc. owned 0.43% of Kennedy-Wilson worth $5,106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Kennedy-Wilson by 3.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,625 shares of the financial services provider’s stock valued at $646,000 after purchasing an additional 2,054 shares during the period. Legal & General Group Plc lifted its position in shares of Kennedy-Wilson by 0.3% during the fourth quarter. Legal & General Group Plc now owns 727,693 shares of the financial services provider’s stock worth $7,270,000 after purchasing an additional 2,105 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Kennedy-Wilson by 13.6% during the fourth quarter. Signaturefd LLC now owns 24,885 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 2,976 shares during the period. Sterling Capital Management LLC grew its holdings in shares of Kennedy-Wilson by 822.3% in 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 last quarter. Finally, Belpointe Asset Management LLC increased its stake in Kennedy-Wilson by 10.2% in the 4th quarter. Belpointe Asset Management LLC now owns 35,056 shares of the financial services provider’s stock worth $350,000 after buying an additional 3,250 shares during the period. 87.72% of the stock is currently owned by institutional investors.

Kennedy-Wilson Stock Performance

KW opened at $7.44 on Thursday. The firm has a market capitalization of $1.03 billion, a PE ratio of -7.08, a P/E/G ratio of 25.53 and a beta of 1.07. The firm has a 50 day moving average of $6.71 and a two-hundred day moving average of $7.86. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 6.23. Kennedy-Wilson Holdings Inc. has a 12-month low of $5.98 and a 12-month high of $11.88.

Kennedy-Wilson (NYSE:KW) last announced its earnings results on Wednesday, May 7th. The financial services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). The business had revenue of $128.30 million for the quarter, compared to analyst estimates of $227.14 million. Kennedy-Wilson had a positive return on equity of 7.76% and a negative net margin of 19.24%. On average, analysts anticipate that Kennedy-Wilson Holdings Inc. will post 2.87 EPS for the current year.

Kennedy-Wilson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 30th were paid a $0.12 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.45%. Kennedy-Wilson’s payout ratio is presently -45.71%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Kennedy-Wilson from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th.

Insider Activity

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 owned 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. Corporate insiders own 20.30% of the company’s stock.

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.