ING Groep NV purchased a new stake in shares of KeyCorp (NYSE:KEY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 102,251 shares of the financial services provider’s stock, valued at approximately $2,062,000.
Other institutional investors have also added to or reduced their stakes in the company. Boston Partners acquired a new stake in shares of KeyCorp during the 3rd quarter valued at about $356,111,000. APG Asset Management N.V. raised its stake in shares of KeyCorp by 45.9% during the fourth quarter. APG Asset Management N.V. now owns 7,944,416 shares of the financial services provider’s stock worth $133,443,000 after buying an additional 2,497,702 shares during the last quarter. Bessemer Group Inc. increased its stake in KeyCorp by 17.3% in the fourth quarter. Bessemer Group Inc. now owns 14,150,163 shares of the financial services provider’s stock valued at $285,409,000 after purchasing an additional 2,084,290 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in KeyCorp by 36.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 7,486,279 shares of the financial services provider’s stock valued at $140,892,000 after purchasing an additional 1,985,847 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in KeyCorp by 8.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock valued at $448,990,000 after purchasing an additional 1,765,263 shares in the last quarter. Institutional investors and hedge funds own 82.19% of the company’s stock.
Several equities research analysts have commented on the stock. CIBC reaffirmed a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. Barclays increased their price target on shares of KeyCorp from $19.00 to $23.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price target for the company in a research note on Thursday, December 14th. DA Davidson increased their price objective on shares of KeyCorp to $26.00 and gave the company a “buy” rating in a research report on Friday, January 19th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.50 price objective on shares of KeyCorp in a research report on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the stock. KeyCorp currently has an average rating of “Buy” and an average price target of $22.07.
KeyCorp (KEY) traded up $0.07 during trading on Friday, reaching $21.02. 6,801,618 shares of the company’s stock traded hands, compared to its average volume of 10,800,000. 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 52-week low of $16.28 and a 52-week high of $22.22. The company has a market cap of $22,600.00, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same quarter in the previous year, the business posted $0.31 EPS. equities research analysts expect that KeyCorp will post 1.67 EPS for the current fiscal year.
The business 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 dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Monday, February 26th. KeyCorp’s dividend payout ratio is presently 33.33%.
In related news, insider Christopher M. Gorman sold 56,038 shares of the company’s 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Elizabeth R. Gile acquired 1,374 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was bought at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the transaction, the director now owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Corporate insiders own 0.65% of the company’s stock.
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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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