Corebridge Financial Inc. Lowers Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Corebridge Financial Inc. reduced its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 262,787 shares of the company’s stock after selling 10,597 shares during the period. Corebridge Financial Inc. owned about 0.11% of Kyndryl worth $9,092,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in Kyndryl by 35.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $39,000 after acquiring an additional 297 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Kyndryl by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,972 shares of the company’s stock worth $1,037,000 after purchasing an additional 312 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Kyndryl by 0.7% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,298 shares of the company’s stock worth $1,775,000 after purchasing an additional 332 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Kyndryl by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 64,500 shares of the company’s stock valued at $2,232,000 after buying an additional 400 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in Kyndryl by 27.1% in the 4th quarter. UMB Bank n.a. now owns 1,916 shares of the company’s stock worth $66,000 after buying an additional 408 shares during the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Susquehanna increased their target price on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a report on Wednesday, February 5th. Oppenheimer raised their price objective on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th.

Kyndryl Price Performance

KD stock opened at $32.38 on Friday. Kyndryl Holdings, Inc. has a 1 year low of $19.24 and a 1 year high of $43.61. The firm has a market capitalization of $7.53 billion, a PE ratio of 58.86, a price-to-earnings-growth ratio of 10.84 and a beta of 1.85. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50 day simple moving average of $37.81 and a 200-day simple moving average of $32.23.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $42.81, for a total transaction of $2,374,456.65. Following the transaction, the senior vice president now directly owns 43,877 shares of the company’s stock, valued at $1,878,374.37. The trade was a 55.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Edward Sebold sold 27,500 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the completion of the sale, the general counsel now directly owns 132,818 shares of the company’s stock, valued at approximately $5,688,594.94. This trade represents a 17.15 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by company insiders.

About Kyndryl

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.