CANADA LIFE ASSURANCE Co Raises Stake in Kyndryl Holdings, Inc. (NYSE:KD)

CANADA LIFE ASSURANCE Co increased its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,623 shares of the company’s stock after acquiring an additional 2,248 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.09% of Kyndryl worth $7,523,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Millstone Evans Group LLC purchased a new position in shares of Kyndryl in the 4th quarter worth about $35,000. Picton Mahoney Asset Management purchased a new position in Kyndryl in the fourth quarter worth about $38,000. EverSource Wealth Advisors LLC lifted its stake in shares of Kyndryl by 35.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $39,000 after buying an additional 297 shares in the last quarter. Sandy Spring Bank grew its holdings in shares of Kyndryl by 41.2% during the fourth quarter. Sandy Spring Bank now owns 1,514 shares of the company’s stock valued at $52,000 after buying an additional 442 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Kyndryl during the fourth quarter valued at approximately $60,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Up 3.3 %

KD opened at $29.83 on Wednesday. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 54.24, a PEG ratio of 10.84 and a beta of 1.91. The firm has a 50 day moving average price of $33.94 and a 200-day moving average price of $33.18. Kyndryl Holdings, Inc. has a twelve month low of $19.24 and a twelve month high of $43.61. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on KD shares. Susquehanna upped their price objective on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research report on Wednesday, February 5th. Oppenheimer boosted their price target on Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th.

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.