Principal Financial Group Inc. Cuts Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Principal Financial Group Inc. cut its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 30.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 535,344 shares of the company’s stock after selling 230,705 shares during the period. Principal Financial Group Inc. owned 0.23% of Kyndryl worth $12,302,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KD. Cortland Associates Inc. MO lifted its position in shares of Kyndryl by 35.7% in the third quarter. Cortland Associates Inc. MO now owns 2,150,614 shares of the company’s stock worth $49,421,000 after buying an additional 565,263 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Kyndryl during the 3rd quarter valued at approximately $227,000. State of Alaska Department of Revenue grew its holdings in shares of Kyndryl by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 26,787 shares of the company’s stock valued at $615,000 after purchasing an additional 1,820 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Kyndryl by 19.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 29,660 shares of the company’s stock worth $682,000 after purchasing an additional 4,750 shares during the last quarter. Finally, Highland Capital Management LLC purchased a new stake in Kyndryl during the third quarter valued at $203,000. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Stock Performance

Kyndryl stock opened at $27.92 on Friday. The company’s 50-day moving average price is $24.27 and its 200-day moving average price is $24.92. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65. The company has a market cap of $6.49 billion, a PE ratio of -71.59, a price-to-earnings-growth ratio of 7.02 and a beta of 1.63. Kyndryl Holdings, Inc. has a twelve month low of $17.62 and a twelve month high of $28.93.

Kyndryl Profile

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.