New England Research & Management Inc. raised its position in shares of KeyCorp (NYSE:KEY) by 12.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,845 shares of the financial services provider’s stock after acquiring an additional 5,750 shares during the quarter. New England Research & Management Inc.’s holdings in KeyCorp were worth $1,026,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of KeyCorp by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after purchasing an additional 4,230,390 shares in the last quarter. BlackRock Inc. boosted its position in shares of KeyCorp by 2.7% in the 2nd quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock worth $1,624,654,000 after purchasing an additional 2,280,450 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of KeyCorp by 8.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock worth $448,990,000 after purchasing an additional 1,765,263 shares in the last quarter. Boston Partners bought a new stake in shares of KeyCorp in the 3rd quarter worth approximately $356,111,000. Finally, Northern Trust Corp boosted its position in shares of KeyCorp by 1.9% in the 2nd quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock worth $232,925,000 after purchasing an additional 231,558 shares in the last quarter. 81.01% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Carlton L. Highsmith sold 7,600 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $18.39, for a total value of $139,764.00. Following the completion of the transaction, the director now owns 68,725 shares of the company’s stock, valued at approximately $1,263,852.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth R. Gile bought 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was purchased at an average cost of $18.23 per share, with a total value of $25,048.02. Following the acquisition, the director now directly owns 24,989 shares in the company, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Insiders sold a total of 57,212 shares of company stock valued at $1,060,508 in the last ninety days. 0.65% of the stock is currently owned by insiders.
A number of brokerages have recently commented on KEY. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.00 price target on shares of KeyCorp in a research report on Thursday, October 19th. CIBC reissued a “buy” rating on shares of KeyCorp in a research report on Friday, December 8th. Barclays boosted their price objective on shares of KeyCorp from $19.00 to $23.00 and gave the stock an “underweight” rating in a report on Tuesday, January 2nd. Citigroup boosted their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 9th. Finally, Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price objective for the company in a report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $21.56.
Shares of KeyCorp (NYSE KEY) traded up $0.23 on Tuesday, reaching $21.42. 10,075,300 shares of the company’s stock were exchanged, compared to its average volume of 8,345,300. The stock has a market cap of $23,240.00, a price-to-earnings ratio of 18.63, a PEG ratio of 1.64 and a beta of 1.09. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. KeyCorp has a 1-year low of $16.28 and a 1-year high of $21.47.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. KeyCorp’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 EPS. research analysts expect that KeyCorp will post 1.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be issued a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Monday, February 26th. KeyCorp’s dividend payout ratio is currently 36.52%.
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KeyCorp Company Profile
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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