Kennedy-Wilson (NYSE:KW) Shares Gap Up After Insider Buying Activity

Kennedy-Wilson Holdings, Inc. (NYSE:KW)’s stock price gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $8.63, but opened at $8.81. Kennedy-Wilson shares last traded at $8.83, with a volume of 73,488 shares changing hands.

Specifically, Director Stanley R. Zax acquired 41,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average cost of $8.56 per share, for a total transaction of $350,960.00. Following the completion of the acquisition, the director now owns 547,400 shares of the company’s stock, valued at approximately $4,685,744. This trade represents a 8.10 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Kennedy-Wilson from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Kennedy-Wilson in a report on Monday, February 24th. They issued a “hold” rating and a $9.00 price objective for the company.

Kennedy-Wilson Price Performance

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 stock’s fifty day simple moving average is $9.10 and its 200-day simple moving average is $10.23. The company has a market capitalization of $1.22 billion, a P/E ratio of -3.42, a PEG ratio of 0.54 and a beta of 1.14.

Kennedy-Wilson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend is Monday, March 31st. Kennedy-Wilson’s dividend payout ratio (DPR) is -85.71%.

Institutional Investors Weigh In On Kennedy-Wilson

A number of hedge funds have recently bought and sold shares of the company. KBC Group NV raised its position in shares of Kennedy-Wilson by 53.1% during the third quarter. KBC Group NV now owns 4,884 shares of the financial services provider’s stock valued at $54,000 after buying an additional 1,693 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Kennedy-Wilson during the third quarter valued at about $751,000. Intech Investment Management LLC acquired a new position in shares of Kennedy-Wilson during the third quarter valued at about $245,000. Charles Schwab Investment Management Inc. raised its position in shares of Kennedy-Wilson by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,913,271 shares of the financial services provider’s stock valued at $21,142,000 after buying an additional 53,185 shares during the last quarter. Finally, Cerity Partners LLC raised its position in shares of Kennedy-Wilson by 90.3% during the third quarter. Cerity Partners LLC now owns 79,998 shares of the financial services provider’s stock valued at $884,000 after buying an additional 37,963 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors.

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.