KBC Group NV lessened its stake in KeyCorp (NYSE:KEY) by 37.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 328,481 shares of the financial services provider’s stock after selling 198,390 shares during the period. KBC Group NV’s holdings in KeyCorp were worth $6,625,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation boosted its position in KeyCorp by 2,277.5% in the 3rd quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 5,466 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new stake in KeyCorp in the 3rd quarter worth approximately $132,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in KeyCorp in the 3rd quarter worth approximately $145,000. AllSquare Wealth Management LLC purchased a new stake in KeyCorp in the 3rd quarter worth approximately $173,000. Finally, Connable Office Inc. purchased a new stake in KeyCorp in the 3rd quarter worth approximately $195,000. Institutional investors and hedge funds own 82.19% of the company’s stock.
In related news, insider Craig A. Buffie sold 11,819 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total value of $250,680.99. Following the completion of the transaction, the insider now directly owns 51,791 shares of the company’s stock, valued at approximately $1,098,487.11. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the purchase, the director now owns 24,989 shares in the company, valued at approximately $455,549.47. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by corporate insiders.
KeyCorp (NYSE KEY) opened at $21.02 on Friday. KeyCorp has a 52 week low of $16.28 and a 52 week high of $22.22. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $22,397.31, a price-to-earnings ratio of 15.29, a P/E/G ratio of 1.32 and a beta of 1.04.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the company earned $0.31 EPS. equities analysts predict that KeyCorp will post 1.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be paid a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 2.00%. The ex-dividend date is Monday, February 26th. KeyCorp’s dividend payout ratio is currently 37.50%.
Several research firms have commented on KEY. CIBC restated a “buy” rating on shares of KeyCorp in a research report on Friday, December 8th. Stephens raised KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 target price for the company in a research note on Thursday, December 14th. Oppenheimer reaffirmed a “hold” rating on shares of KeyCorp in a research note on Friday, October 20th. Vining Sparks reaffirmed a “buy” rating and set a $25.00 target price on shares of KeyCorp in a research note on Thursday, January 18th. Finally, Zacks Investment Research raised 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. Two research 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 target price of $22.07.
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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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