Sit Investment Associates Inc. Acquires 148,398 Shares of Kayne Anderson Energy Development Co. (KED)

Sit Investment Associates Inc. increased its stake in Kayne Anderson Energy Development Co. (NYSE:KED) by 66.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 371,792 shares of the investment management company’s stock after acquiring an additional 148,398 shares during the period. Sit Investment Associates Inc. owned approximately 3.46% of Kayne Anderson Energy Development worth $6,473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KED. Legal & General Group Plc grew its position in Kayne Anderson Energy Development by 9.0% in the second quarter. Legal & General Group Plc now owns 25,988 shares of the investment management company’s stock worth $471,000 after acquiring an additional 2,137 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Kayne Anderson Energy Development by 13.5% during the second quarter. Ameriprise Financial Inc. now owns 18,280 shares of the investment management company’s stock valued at $331,000 after buying an additional 2,174 shares during the period. Advisor Group Inc. boosted its position in shares of Kayne Anderson Energy Development by 41.6% during the second quarter. Advisor Group Inc. now owns 46,988 shares of the investment management company’s stock valued at $852,000 after buying an additional 13,794 shares during the period. Lakeview Capital Partners LLC purchased a new position in shares of Kayne Anderson Energy Development during the third quarter valued at approximately $262,000. Finally, Wells Fargo & Company MN boosted its position in shares of Kayne Anderson Energy Development by 22.7% during the third quarter. Wells Fargo & Company MN now owns 52,172 shares of the investment management company’s stock valued at $904,000 after buying an additional 9,667 shares during the period.

Separately, Stifel Nicolaus restated a “buy” rating and set a $20.00 target price on shares of Kayne Anderson Energy Development in a research report on Friday, October 13th.

Kayne Anderson Energy Development Co. (NYSE KED) traded down $0.59 during trading on Friday, hitting $17.66. 29,188 shares of the stock traded hands, compared to its average volume of 76,756. Kayne Anderson Energy Development Co. has a 1 year low of $14.10 and a 1 year high of $20.46. The company has a market capitalization of $189.70, a P/E ratio of -252.29 and a beta of 1.20.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, January 5th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 9.06%. The ex-dividend date of this dividend was Thursday, January 4th. Kayne Anderson Energy Development’s dividend payout ratio (DPR) is -2,285.71%.

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Kayne Anderson Energy Development Company Profile

Kayne Anderson Energy Development Company is a non-diversified, closed-end fund. The Fund’s investment objective is to generate both current income and capital appreciation, through equity and debt investments. It seeks to achieve this objective by investing approximately 80% of its total assets in securities of companies that derive their revenue from activities in the energy industry, including midstream energy companies, which operates assets used to gather, transport, process, treat, terminal and store natural gas, natural gas liquids, crude oil or refined petroleum products; upstream energy companies, which are engaged in the exploration, extraction and production of natural resources, including natural gas, natural gas liquids and crude oil, from onshore and offshore geological reservoirs, and other energy companies, which are engaged in owning, leasing, managing, producing, processing and selling of coal and coal reserves.

Institutional Ownership by Quarter for Kayne Anderson Energy Development (NYSE:KED)

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