Barrow Hanley Mewhinney & Strauss LLC decreased its position in KeyCorp (NYSE:KEY) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 23,456,877 shares of the financial services provider’s stock after selling 400,202 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in KeyCorp were worth $473,125,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of KEY. Ameritas Investment Partners Inc. lifted its holdings in KeyCorp by 0.9% in the second quarter. Ameritas Investment Partners Inc. now owns 24,886 shares of the financial services provider’s stock valued at $466,000 after acquiring an additional 216 shares during the period. Verition Fund Management LLC bought a new position in KeyCorp in the second quarter valued at about $420,000. Advisory Services Network LLC lifted its holdings in KeyCorp by 0.8% in the second quarter. Advisory Services Network LLC now owns 18,211 shares of the financial services provider’s stock valued at $341,000 after acquiring an additional 150 shares during the period. Cetera Investment Advisers bought a new position in KeyCorp in the second quarter valued at about $263,000. Finally, Eqis Capital Management Inc. lifted its holdings in KeyCorp by 31.0% in the third quarter. Eqis Capital Management Inc. now owns 15,199 shares of the financial services provider’s stock valued at $286,000 after acquiring an additional 3,600 shares during the period. 82.19% of the stock is currently owned by institutional investors.
In related 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 completion of the transaction, the insider now directly owns 51,791 shares of the company’s stock, valued at $1,098,487.11. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher M. Gorman sold 56,038 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $20.97, for a total value of $1,175,116.86. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.
KEY has been the subject of a number of analyst reports. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Tuesday, December 26th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $21.50 price target on shares of KeyCorp in a research report on Thursday, December 14th. CIBC restated a “buy” rating on shares of KeyCorp in a research report on Friday, December 8th. ValuEngine upgraded KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, DA Davidson upped their price target on KeyCorp to $26.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.07.
Shares of KeyCorp (NYSE:KEY) opened at $21.02 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.89. KeyCorp has a 1 year low of $16.28 and a 1 year high of $22.22. The stock has a market capitalization of $22,600.00, a PE ratio of 16.68, a P/E/G ratio of 1.32 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 earnings per share (EPS) for the quarter, hitting the 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 analysts’ expectations of $1.58 billion. During the same quarter last year, the business posted $0.31 earnings per share. analysts forecast that KeyCorp will post 1.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, February 26th. KeyCorp’s dividend payout ratio is currently 33.33%.
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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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