Gulf International Bank UK Ltd cut its stake in shares of KeyCorp (NYSE:KEY) by 31.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 256,770 shares of the financial services provider’s stock after selling 117,819 shares during the quarter. Gulf International Bank UK Ltd’s holdings in KeyCorp were worth $3,795,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in KEY. FMR LLC boosted its stake in KeyCorp by 3.3% in the 2nd quarter. FMR LLC now owns 12,512,784 shares of the financial services provider’s stock worth $244,500,000 after purchasing an additional 401,074 shares during the period. Envestnet Asset Management Inc. boosted its stake in KeyCorp by 91.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 115,623 shares of the financial services provider’s stock worth $2,259,000 after purchasing an additional 55,274 shares during the period. Baird Financial Group Inc. boosted its stake in KeyCorp by 33.1% in the 2nd quarter. Baird Financial Group Inc. now owns 13,652 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 3,395 shares during the period. Laurion Capital Management LP boosted its stake in KeyCorp by 114.6% in the 2nd quarter. Laurion Capital Management LP now owns 42,145 shares of the financial services provider’s stock worth $824,000 after purchasing an additional 331,648 shares during the period. Finally, Raymond James & Associates boosted its stake in KeyCorp by 24.3% in the 2nd quarter. Raymond James & Associates now owns 1,197,674 shares of the financial services provider’s stock worth $23,403,000 after purchasing an additional 234,344 shares during the period. Institutional investors own 79.44% of the company’s stock.
In related news, Chairman Beth E. Mooney purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were bought at an average price of $18.26 per share, for a total transaction of $182,600.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Donald R. Kimble purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were bought at an average price of $18.55 per share, for a total transaction of $92,750.00. Following the acquisition, the insider now directly owns 253,847 shares in the company, valued at approximately $4,708,861.85. The disclosure for this purchase can be found here. 0.67% of the stock is owned by corporate insiders.
KEY has been the subject of several recent analyst reports. Raymond James restated a “hold” rating on shares of KeyCorp in a research note on Wednesday, December 19th. BMO Capital Markets dropped their price target on KeyCorp from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Zacks Investment Research upgraded KeyCorp from a “sell” rating to a “hold” rating in a research note on Monday, October 8th. Nomura restated a “neutral” rating and issued a $18.00 price target (down from $20.00) on shares of KeyCorp in a research note on Tuesday, November 13th. Finally, Stephens restated a “buy” rating and issued a $19.00 price target on shares of KeyCorp in a research note on Wednesday, December 19th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $22.29.
Shares of KEY opened at $15.96 on Friday. The company has a market cap of $16.40 billion, a PE ratio of 11.74, a PEG ratio of 0.53 and a beta of 1.17. KeyCorp has a 1 year low of $13.65 and a 1 year high of $22.40. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.88 and a current ratio of 0.89.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.64 billion. KeyCorp had a return on equity of 12.56% and a net margin of 21.47%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. As a group, equities analysts forecast that KeyCorp will post 1.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 4.26%. KeyCorp’s dividend payout ratio (DPR) is 50.00%.
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KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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