Raymond James Financial Inc. Acquires New Stake in Kennedy-Wilson Holdings, Inc. (NYSE:KW)

Raymond James Financial Inc. bought a new position in shares of Kennedy-Wilson Holdings, Inc. (NYSE:KW) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 280,402 shares of the financial services provider’s stock, valued at approximately $2,801,000. Raymond James Financial Inc. owned approximately 0.20% of Kennedy-Wilson at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC raised its holdings in Kennedy-Wilson by 7.9% during the third quarter. FMR LLC now owns 16,198 shares of the financial services provider’s stock worth $179,000 after acquiring an additional 1,182 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Kennedy-Wilson by 13.3% in the 3rd quarter. Quantinno Capital Management LP now owns 14,403 shares of the financial services provider’s stock valued at $159,000 after buying an additional 1,686 shares during the last quarter. Van ECK Associates Corp increased its holdings in Kennedy-Wilson by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 21,537 shares of the financial services provider’s stock worth $215,000 after buying an additional 1,995 shares during the last quarter. Legacy Capital Group California Inc. increased its stake in shares of Kennedy-Wilson by 12.8% during the 4th quarter. Legacy Capital Group California Inc. now owns 19,466 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 2,206 shares during the last quarter. Finally, KBC Group NV grew its holdings in Kennedy-Wilson by 56.3% during the fourth quarter. KBC Group NV now owns 7,632 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 2,748 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.

Analysts Set New Price Targets

KW has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Kennedy-Wilson in a report on Monday, February 24th. They set a “hold” rating and a $9.00 target price on the stock. StockNews.com upgraded shares of Kennedy-Wilson from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

Insiders Place Their Bets

In related news, Director Stanley R. Zax purchased 41,000 shares of Kennedy-Wilson stock in a transaction dated Wednesday, March 19th. The shares were bought at an average cost of $8.56 per share, for a total transaction of $350,960.00. Following the purchase, the director now owns 547,400 shares in the company, valued at approximately $4,685,744. This trade represents a 8.10 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cathy Hendrickson sold 30,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $8.62, for a total transaction of $258,600.00. Following the completion of the transaction, 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. Corporate insiders own 22.73% of the company’s stock.

Kennedy-Wilson Trading Down 1.8 %

Shares of NYSE:KW opened at $8.59 on Friday. The company has a market capitalization of $1.18 billion, a P/E ratio of -3.33, a P/E/G ratio of 0.54 and a beta of 1.14. Kennedy-Wilson Holdings, Inc. has a 1 year low of $8.02 and a 1 year high of $11.88. The company has a debt-to-equity ratio of 6.06, a current ratio of 1.18 and a quick ratio of 1.18. The business’s 50 day simple moving average is $9.08 and its 200 day simple moving average is $10.16.

Kennedy-Wilson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 31st will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.59%. The ex-dividend date is Monday, March 31st. Kennedy-Wilson’s payout ratio is presently -85.71%.

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.