Strs Ohio lowered its stake in KeyCorp (NYSE:KEY) by 7.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 467,034 shares of the financial services provider’s stock after selling 39,363 shares during the quarter. Strs Ohio’s holdings in KeyCorp were worth $9,420,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of KEY. Zions Bancorporation boosted its stake in shares of KeyCorp by 2,277.5% during the 3rd quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 5,466 shares during the last quarter. Bank of Nova Scotia Trust Co. purchased a new position in shares of KeyCorp during the 3rd quarter valued at $132,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of KeyCorp during the 3rd quarter valued at $145,000. Sun Life Financial INC lifted its stake in shares of KeyCorp by 80,370.0% during the 2nd quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock valued at $151,000 after buying an additional 8,037 shares in the last quarter. Finally, AllSquare Wealth Management LLC purchased a new position in shares of KeyCorp during the 3rd quarter valued at $173,000. Institutional investors own 82.19% of the company’s stock.
Shares of KeyCorp (NYSE:KEY) opened at $20.59 on Tuesday. KeyCorp has a 52-week low of $16.28 and a 52-week high of $22.22. The firm has a market cap of $22,140.00, a P/E ratio of 18.38, a PEG ratio of 1.52 and a beta of 1.04. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.89 and a quick ratio of 0.88.
KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the company earned $0.31 EPS. research analysts expect that KeyCorp will post 1.67 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th will be given a $0.105 dividend. The ex-dividend date of this dividend is Monday, February 26th. This represents a $0.42 annualized dividend and a dividend yield of 2.04%. KeyCorp’s payout ratio is presently 37.50%.
A number of analysts have issued reports on KEY shares. CIBC reiterated a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Tuesday, December 26th. Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price target on the stock in a report on Thursday, December 14th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.50 price target on shares of KeyCorp in a report on Thursday, December 14th. Finally, Barclays lifted their price target on shares of KeyCorp from $19.00 to $23.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $22.07.
In other news, Director Elizabeth R. Gile acquired 1,374 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 22nd. The stock was purchased at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the purchase, the director now directly owns 24,989 shares in the company, valued at approximately $455,549.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig A. Buffie sold 11,819 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total transaction of $250,680.99. Following the transaction, the insider now owns 51,791 shares of the company’s stock, valued at approximately $1,098,487.11. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.
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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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