Jennison Associates LLC Makes New Investment in Kennedy-Wilson Holdings, Inc. (NYSE:KW)

Jennison Associates LLC purchased a new position in Kennedy-Wilson Holdings, Inc. (NYSE:KW) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 67,964 shares of the financial services provider’s stock, valued at approximately $751,000.

A number of other hedge funds also recently modified their holdings of the business. Quest Partners LLC increased its stake in Kennedy-Wilson by 580.9% during the 3rd quarter. Quest Partners LLC now owns 149,357 shares of the financial services provider’s stock worth $1,650,000 after purchasing an additional 127,423 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Kennedy-Wilson by 6.5% in the third quarter. Royce & Associates LP now owns 8,973,874 shares of the financial services provider’s stock valued at $99,161,000 after buying an additional 544,495 shares during the period. KBC Group NV increased 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 worth $54,000 after acquiring an additional 1,693 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Kennedy-Wilson during the third quarter worth $116,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in Kennedy-Wilson in the 3rd quarter valued at $1,996,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KW. StockNews.com downgraded Kennedy-Wilson from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. JPMorgan Chase & Co. lifted their target price on Kennedy-Wilson from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th.

Kennedy-Wilson Stock Up 0.5 %

Shares of KW stock opened at $11.03 on Friday. The firm’s fifty day moving average price is $11.01 and its two-hundred day moving average price is $10.52. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.06. Kennedy-Wilson Holdings, Inc. has a 1 year low of $7.85 and a 1 year high of $13.27. The firm has a market capitalization of $1.52 billion, a P/E ratio of -4.28, a PEG ratio of 0.71 and a beta of 1.10.

Kennedy-Wilson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 31st will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.48 annualized dividend and a yield of 4.35%. Kennedy-Wilson’s payout ratio is presently -18.60%.

Kennedy-Wilson Company Profile

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.