Truist Financial Corp Reduces Position in Kennedy-Wilson Holdings, Inc. (NYSE:KW)

Truist Financial Corp trimmed its position in Kennedy-Wilson Holdings, Inc. (NYSE:KW) by 3.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 86,863 shares of the financial services provider’s stock after selling 2,899 shares during the period. Truist Financial Corp’s holdings in Kennedy-Wilson were worth $844,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KW. SteelPeak Wealth LLC bought a new stake in shares of Kennedy-Wilson during the 1st quarter valued at about $208,000. BNP Paribas Financial Markets boosted its position in Kennedy-Wilson by 1,238.7% during the 1st quarter. BNP Paribas Financial Markets now owns 704,763 shares of the financial services provider’s stock valued at $6,047,000 after acquiring an additional 652,116 shares in the last quarter. Capstone Investment Advisors LLC grew its holdings in shares of Kennedy-Wilson by 132.9% during the 1st quarter. Capstone Investment Advisors LLC now owns 52,346 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 29,873 shares during the period. Easterly Investment Partners LLC bought a new position in shares of Kennedy-Wilson in the 1st quarter worth approximately $5,007,000. Finally, Texas Permanent School Fund Corp lifted its stake in shares of Kennedy-Wilson by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 103,185 shares of the financial services provider’s stock valued at $885,000 after purchasing an additional 1,309 shares during the period. 87.72% of the stock is currently owned by institutional investors.

Kennedy-Wilson Stock Performance

Shares of NYSE KW opened at $10.69 on Tuesday. The firm’s 50-day moving average price is $10.82 and its 200-day moving average price is $10.03. Kennedy-Wilson Holdings, Inc. has a 52-week low of $7.85 and a 52-week high of $14.13. The company has a market cap of $1.47 billion, a PE ratio of -5.43, a PEG ratio of 0.65 and a beta of 1.10. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 5.67.

Kennedy-Wilson (NYSE:KW) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.12. Kennedy-Wilson had a negative net margin of 59.78% and a negative return on equity of 13.90%. The firm had revenue of $132.00 million during the quarter, compared to analyst estimates of $100.66 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. As a group, analysts anticipate that Kennedy-Wilson Holdings, Inc. will post 2.88 EPS for the current year.

Kennedy-Wilson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 30th were given a dividend of $0.12 per share. The ex-dividend date was Monday, September 30th. This represents a $0.48 annualized dividend and a yield of 4.49%. Kennedy-Wilson’s dividend payout ratio (DPR) is presently -24.37%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Kennedy-Wilson from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. StockNews.com lowered shares of Kennedy-Wilson from a “hold” rating to a “sell” rating in a report on Monday, September 2nd.

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.