The PNC Financial Services Group Inc. increased its stake in Kennedy-Wilson Holdings, Inc. (NYSE:KW) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,925 shares of the financial services provider’s stock after buying an additional 1,199 shares during the period. The PNC Financial Services Group Inc.’s holdings in Kennedy-Wilson were worth $220,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of KW. US Bancorp DE increased its stake in shares of Kennedy-Wilson by 254.6% in the fourth quarter. US Bancorp DE now owns 2,319 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,665 shares during the last quarter. Fieldpoint Private Securities LLC increased its stake in Kennedy-Wilson by 45.7% during the first quarter. Fieldpoint Private Securities LLC now owns 2,124 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 666 shares during the last quarter. Tompkins Financial Corp bought a new stake in Kennedy-Wilson during the fourth quarter valued at $57,000. Van ECK Associates Corp increased its stake in Kennedy-Wilson by 31.6% during the fourth quarter. Van ECK Associates Corp now owns 4,851 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Kennedy-Wilson by 54.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,250 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.
In related news, General Counsel Kent Y. Mouton sold 37,000 shares of the company’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $20.45, for a total value of $756,650.00. Following the completion of the sale, the general counsel now owns 542,729 shares of the company’s stock, valued at $11,098,808.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Justin Enbody sold 46,100 shares of the company’s stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $20.70, for a total transaction of $954,270.00. Following the completion of the sale, the chief financial officer now directly owns 468,218 shares of the company’s stock, valued at approximately $9,692,112.60. The disclosure for this sale can be found here. 22.10% of the stock is currently owned by corporate insiders.
Kennedy-Wilson (NYSE:KW) last released its quarterly earnings results on Wednesday, May 5th. The financial services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.27 by $0.07. The business had revenue of $99.40 million during the quarter, compared to analyst estimates of $109.05 million. Kennedy-Wilson had a net margin of 26.49% and a return on equity of 24.23%. As a group, equities research analysts predict that Kennedy-Wilson Holdings, Inc. will post 1.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 8th. Stockholders of record on Wednesday, June 30th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, June 29th. This represents a $0.88 annualized dividend and a dividend yield of 4.28%. Kennedy-Wilson’s dividend payout ratio is currently 40.37%.
Separately, Zacks Investment Research upgraded shares of Kennedy-Wilson from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Friday, May 28th.
Kennedy-Wilson Company 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.
Recommended Story: Why Invest in Dividend Kings
Want to see what other hedge funds are holding KW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kennedy-Wilson Holdings, Inc. (NYSE:KW).
Receive News & Ratings for Kennedy-Wilson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kennedy-Wilson and related companies with MarketBeat.com's FREE daily email newsletter.