MUFG Americas Holdings Corp reduced its position in shares of KeyCorp (NYSE:KEY) by 10.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 59,011 shares of the financial services provider’s stock after selling 6,584 shares during the quarter. MUFG Americas Holdings Corp’s holdings in KeyCorp were worth $1,191,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of KEY. Zions Bancorporation boosted its position in shares of KeyCorp by 2,277.5% during the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after buying an additional 5,466 shares during the period. Bank of Nova Scotia Trust Co. acquired a new position in KeyCorp during the third quarter valued at approximately $132,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in KeyCorp during the third quarter valued at approximately $145,000. AllSquare Wealth Management LLC acquired a new position in KeyCorp during the third quarter valued at approximately $173,000. Finally, Connable Office Inc. acquired a new position in KeyCorp during the third quarter valued at approximately $195,000. 82.19% of the stock is owned by institutional investors.
Several brokerages recently commented on KEY. Zacks Investment Research cut KeyCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Oppenheimer reissued a “hold” rating on shares of KeyCorp in a research report on Monday, January 22nd. Deutsche Bank raised KeyCorp from a “hold” rating to a “buy” rating and increased their price target for the company from $23.00 to $24.00 in a research report on Thursday, January 25th. Sandler O’Neill reissued a “hold” rating and set a $21.50 price target on shares of KeyCorp in a research report on Friday, January 19th. Finally, ValuEngine cut KeyCorp from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company. KeyCorp presently has a consensus rating of “Buy” and an average price target of $22.07.
Shares of KeyCorp (KEY) opened at $21.02 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.89 and a quick ratio of 0.88. The stock has a market capitalization of $22,472.15, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. KeyCorp has a 52 week low of $16.28 and a 52 week high of $22.22.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same quarter in the prior year, the company earned $0.31 earnings per share. equities research analysts forecast that KeyCorp will post 1.67 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be paid a $0.105 dividend. The ex-dividend date is Monday, February 26th. This represents a $0.42 annualized dividend and a yield of 2.00%. KeyCorp’s dividend payout ratio is 37.50%.
In other news, Director Elizabeth R. Gile bought 1,374 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were bought at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the purchase, the director now owns 24,989 shares in the company, valued at $455,549.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was 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. 0.65% of the stock is owned by corporate insiders.
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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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