Squarepoint Ops LLC Sells 14,701 Shares of Kennedy-Wilson Holdings, Inc. (NYSE:KW)

Squarepoint Ops LLC cut its stake in Kennedy-Wilson Holdings, Inc. (NYSE:KW) by 19.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,604 shares of the financial services provider’s stock after selling 14,701 shares during the period. Squarepoint Ops LLC’s holdings in Kennedy-Wilson were worth $595,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Sterling Capital Management LLC grew its holdings in Kennedy-Wilson by 822.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,643 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 3,248 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Kennedy-Wilson by 181.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,823 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 3,755 shares in the last quarter. KBC Group NV grew its holdings in Kennedy-Wilson by 56.3% during the 4th quarter. KBC Group NV now owns 7,632 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 2,748 shares in the last quarter. Cibc World Markets Corp bought a new position in Kennedy-Wilson during the 4th quarter worth about $106,000. Finally, Sherbrooke Park Advisers LLC bought a new position in Kennedy-Wilson during the 4th quarter worth about $114,000. 87.72% of the stock is currently owned by institutional investors.

Insider Activity at Kennedy-Wilson

In related news, Director Stanley R. Zax purchased 41,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was bought at an average price of $8.56 per share, with a total value of $350,960.00. Following the acquisition, the director now owns 547,400 shares in the company, valued at $4,685,744. The trade was a 8.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cathy Hendrickson sold 30,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.62, for a total transaction of $258,600.00. Following the completion of the sale, the director now directly owns 98,318 shares of the company’s stock, valued at approximately $847,501.16. The trade was a 23.38% decrease in their position. The disclosure for this sale can be found here. Company insiders own 20.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Kennedy-Wilson in a research report on Monday, February 24th. They set a “hold” rating and a $9.00 price target for the company.

Kennedy-Wilson Stock Performance

Shares of NYSE KW opened at $6.35 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.06. Kennedy-Wilson Holdings, Inc. has a 12 month low of $5.98 and a 12 month high of $11.88. The company has a 50 day simple moving average of $6.75 and a two-hundred day simple moving average of $8.69. The stock has a market cap of $877.47 million, a price-to-earnings ratio of -2.46, a PEG ratio of 0.54 and a beta of 1.07.

Kennedy-Wilson (NYSE:KW) last posted its earnings results on Wednesday, May 7th. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). Kennedy-Wilson had a negative net margin of 58.56% and a negative return on equity of 14.09%. The firm had revenue of $128.30 million during the quarter, compared to analyst estimates of $227.14 million. As a group, analysts predict that Kennedy-Wilson Holdings, Inc. will post 2.87 earnings per share for the current year.

Kennedy-Wilson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 30th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 7.57%. The ex-dividend date of this dividend is Monday, June 30th. Kennedy-Wilson’s dividend payout ratio is currently -45.71%.

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.