Teacher Retirement System of Texas lowered its stake in KeyCorp (NYSE:KEY) by 81.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 294,646 shares of the financial services provider’s stock after selling 1,299,599 shares during the quarter. Teacher Retirement System of Texas’ holdings in KeyCorp were worth $5,943,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its stake in shares of KeyCorp by 78.0% in the third quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock valued at $1,055,000 after buying an additional 24,554 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of KeyCorp by 2.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 3,575,887 shares of the financial services provider’s stock valued at $67,299,000 after buying an additional 71,018 shares in the last quarter. New England Research & Management Inc. grew its stake in shares of KeyCorp by 12.8% in the fourth quarter. New England Research & Management Inc. now owns 50,845 shares of the financial services provider’s stock valued at $1,026,000 after buying an additional 5,750 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of KeyCorp by 11.1% in the third quarter. Toronto Dominion Bank now owns 428,912 shares of the financial services provider’s stock valued at $8,071,000 after buying an additional 42,971 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in shares of KeyCorp in the third quarter valued at about $268,000. Institutional investors and hedge funds own 82.19% of the company’s stock.
KeyCorp (KEY) opened at $20.95 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. KeyCorp has a 1-year low of $16.28 and a 1-year high of $22.22. The company has a market capitalization of $22,632.51, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.59 and a beta of 1.04.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the business posted $0.31 EPS. sell-side analysts expect that KeyCorp will post 1.67 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Monday, February 26th. KeyCorp’s dividend payout ratio is presently 37.50%.
In other KeyCorp news, insider Craig A. Buffie sold 11,819 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Elizabeth R. Gile bought 1,374 shares of KeyCorp stock in a transaction on Wednesday, November 22nd. The shares were purchased at an average cost of $18.23 per share, for a total transaction of $25,048.02. Following the acquisition, the director now owns 24,989 shares in the company, valued at $455,549.47. The disclosure for this purchase can be found here. Company insiders own 0.65% of the company’s stock.
KEY has been the subject of a number of recent research reports. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, December 26th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.50 target price on shares of KeyCorp in a research note on Thursday, December 14th. CIBC reiterated a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. ValuEngine upgraded KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Vining Sparks reiterated a “buy” rating and issued a $25.00 target price on shares of KeyCorp in a research note on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company’s stock. KeyCorp presently has an average rating of “Buy” and an average target price of $22.07.
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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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