Kennedy-Wilson (NYSE:KW) Shares Gap Up Following 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 traded.

Specifically, Director Stanley R. Zax bought 41,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were acquired at an average price of $8.56 per share, with a total value of $350,960.00. Following the transaction, the director now owns 547,400 shares of the company’s stock, valued at $4,685,744. The trade was a 8.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts have 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 initiated coverage on shares of Kennedy-Wilson in a report on Monday, February 24th. They issued a “hold” rating and a $9.00 price target for the company.

Kennedy-Wilson Price Performance

The company has a debt-to-equity ratio of 6.06, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $1.22 billion, a PE ratio of -3.44, a price-to-earnings-growth ratio of 0.54 and a beta of 1.14. The stock has a 50 day simple moving average of $9.11 and a two-hundred day simple moving average of $10.26.

Kennedy-Wilson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 31st will be issued a $0.12 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.48 dividend on an annualized basis and a yield of 5.42%. Kennedy-Wilson’s payout ratio is -85.71%.

Institutional Trading of Kennedy-Wilson

Institutional investors and hedge funds have recently made changes to their positions in the business. Royce & Associates LP grew its position in shares of Kennedy-Wilson by 3.6% in the fourth quarter. Royce & Associates LP now owns 9,299,611 shares of the financial services provider’s stock valued at $92,903,000 after purchasing an additional 325,737 shares during the period. Geode Capital Management LLC boosted its holdings in Kennedy-Wilson by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,859,103 shares of the financial services provider’s stock worth $31,599,000 after buying an additional 20,500 shares during the last quarter. Alberta Investment Management Corp increased its stake in Kennedy-Wilson by 17.5% during the 4th quarter. Alberta Investment Management Corp now owns 2,650,322 shares of the financial services provider’s stock worth $26,477,000 after buying an additional 395,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Kennedy-Wilson by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,977,623 shares of the financial services provider’s stock valued at $19,756,000 after acquiring an additional 64,352 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Kennedy-Wilson by 18.2% in the fourth quarter. Northern Trust Corp now owns 1,572,013 shares of the financial services provider’s stock valued at $15,704,000 after acquiring an additional 241,943 shares in the last quarter. 87.72% of the stock is currently owned by hedge funds and other 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.