Riverhead Capital Management LLC cut its position in shares of KeyCorp (NYSE:KEY) by 67.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,470 shares of the financial services provider’s stock after selling 72,800 shares during the period. Riverhead Capital Management LLC’s holdings in KeyCorp were worth $693,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. We Are One Seven LLC acquired a new position in shares of KeyCorp during the 4th quarter worth about $183,000. Meridian Wealth Management LLC acquired a new position in shares of KeyCorp during the 1st quarter worth about $196,000. Whittier Trust Co. increased its stake in shares of KeyCorp by 881.1% during the 1st quarter. Whittier Trust Co. now owns 11,135 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 10,000 shares during the last quarter. Jump Trading LLC acquired a new position in shares of KeyCorp during the 4th quarter worth about $219,000. Finally, CIBC World Markets Inc. acquired a new position in shares of KeyCorp during the 4th quarter worth about $224,000. Institutional investors own 80.06% of the company’s stock.
KeyCorp opened at $20.26 on Thursday, according to Marketbeat. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $21.88 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. KeyCorp has a 12-month low of $16.28 and a 12-month high of $22.40.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 19th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.38. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. KeyCorp had a net margin of 19.32% and a return on equity of 11.03%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. research analysts forecast that KeyCorp will post 1.7 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Tuesday, May 29th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 25th. This represents a $0.48 dividend on an annualized basis and a yield of 2.37%. This is an increase from KeyCorp’s previous quarterly dividend of $0.11. KeyCorp’s payout ratio is currently 30.88%.
Several research analysts have recently weighed in on the stock. ValuEngine lowered shares of KeyCorp from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Morgan Stanley lifted their target price on shares of KeyCorp from $24.50 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, April 24th. Vining Sparks reaffirmed a “buy” rating and set a $25.00 target price on shares of KeyCorp in a report on Friday, April 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $23.00 target price on shares of KeyCorp in a report on Thursday, April 5th. Finally, UBS raised shares of KeyCorp from a “neutral” rating to a “positive” rating in a report on Tuesday, April 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $22.45.
In other KeyCorp news, insider Edward J. Burke sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $19.83, for a total value of $198,300.00. Following the completion of the sale, the insider now owns 126,526 shares of the company’s stock, valued at approximately $2,509,010.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.65% of the company’s stock.
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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