Alberta Investment Management Corp Raises Holdings in Kennedy-Wilson Holdings Inc. $KW

Alberta Investment Management Corp increased its holdings in Kennedy-Wilson Holdings Inc. (NYSE:KW) by 44.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,100,322 shares of the financial services provider’s stock after purchasing an additional 1,255,245 shares during the quarter. Alberta Investment Management Corp’s holdings in Kennedy-Wilson were worth $39,650,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Beartown Capital Management LLC purchased a new position in Kennedy-Wilson during the 4th quarter worth $2,901,000. Mercer Global Advisors Inc. ADV grew its stake in shares of Kennedy-Wilson by 60.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,541 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 6,244 shares during the last quarter. Saba Capital Management L.P. purchased a new stake in shares of Kennedy-Wilson during the fourth quarter worth about $832,000. Quadrature Capital Ltd acquired a new position in shares of Kennedy-Wilson during the fourth quarter valued at about $392,000. Finally, AQR Capital Management LLC raised its position in shares of Kennedy-Wilson by 43.8% in the 4th quarter. AQR Capital Management LLC now owns 93,402 shares of the financial services provider’s stock valued at $903,000 after purchasing an additional 28,439 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

Kennedy-Wilson Stock Performance

Shares of NYSE:KW opened at $10.92 on Friday. Kennedy-Wilson Holdings Inc. has a 52-week low of $6.48 and a 52-week high of $11.09. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 99.28 and a beta of 0.87. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 6.26. The business has a 50-day moving average price of $10.96 and a 200-day moving average price of $10.49.

Kennedy-Wilson (NYSE:KW) last released its earnings results on Wednesday, May 6th. The financial services provider reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.25. Kennedy-Wilson had a return on equity of 23.82% and a net margin of 12.08%.The firm had revenue of $117.20 million during the quarter, compared to the consensus estimate of $91.69 million.

Kennedy-Wilson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 11th will be paid a $0.12 dividend. The ex-dividend date is Thursday, June 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.4%. Kennedy-Wilson’s dividend payout ratio is presently 436.36%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Kennedy-Wilson in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $11.00.

Kennedy-Wilson Company Profile

Kennedy-Wilson Holdings, Inc is a publicly traded global real estate investment company that acquires, develops and manages a diversified portfolio of properties. Its core activities include investing in office, multifamily, retail, industrial and self-storage assets while providing comprehensive property management, leasing, capital markets and investment management services to institutional and private clients.

Headquartered in Beverly Hills, California, Kennedy-Wilson operates through two principal business segments: Investments and Asset Services.