Franklin Resources Inc. lessened its position in shares of Kennedy-Wilson Holdings Inc (NYSE:KW) by 65.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,265,706 shares of the financial services provider’s stock after selling 4,308,800 shares during the quarter. Franklin Resources Inc. owned 1.57% of Kennedy-Wilson worth $48,712,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Cornerstone Wealth Management LLC purchased a new stake in Kennedy-Wilson during the second quarter valued at $230,000. Strs Ohio purchased a new stake in Kennedy-Wilson during the second quarter valued at $103,000. Sei Investments Co. increased its position in Kennedy-Wilson by 60.3% during the second quarter. Sei Investments Co. now owns 6,260 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 2,355 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in Kennedy-Wilson by 291.8% during the third quarter. Public Employees Retirement Association of Colorado now owns 8,107 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 6,038 shares during the last quarter. Finally, Redpoint Investment Management Pty Ltd purchased a new stake in Kennedy-Wilson during the third quarter valued at $204,000. Institutional investors own 83.67% of the company’s stock.
Kennedy-Wilson stock opened at $19.37 on Friday. The firm has a market cap of $2.84 billion, a P/E ratio of 12.48 and a beta of 1.39. The company has a debt-to-equity ratio of 3.75, a current ratio of 0.98 and a quick ratio of 0.98. Kennedy-Wilson Holdings Inc has a one year low of $15.95 and a one year high of $22.27.
Kennedy-Wilson (NYSE:KW) last issued its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.17. The business had revenue of $185.80 million during the quarter, compared to analysts’ expectations of $199.49 million. Kennedy-Wilson had a return on equity of 14.99% and a net margin of 28.15%. The business’s quarterly revenue was down 31.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Friday, December 28th will be given a $0.21 dividend. This is a boost from Kennedy-Wilson’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $0.84 dividend on an annualized basis and a yield of 4.34%. Kennedy-Wilson’s dividend payout ratio is presently 168.89%.
A number of analysts recently commented on KW shares. Deutsche Bank reduced their price objective on Kennedy-Wilson from $26.00 to $25.00 and set a “hold” rating for the company in a research report on Wednesday, August 29th. ValuEngine upgraded Kennedy-Wilson from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. BTIG Research set a $33.00 price objective on Kennedy-Wilson and gave the company a “buy” rating in a research report on Thursday. Finally, TheStreet cut Kennedy-Wilson from a “b-” rating to a “c” rating in a research report on Thursday, November 1st. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $27.33.
Kennedy-Wilson Holdings, Inc 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 commercial properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy, and Japan.
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