Nomura Asset Management Co. Ltd. boosted its stake in KeyCorp (NYSE:KEY) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 160,592 shares of the financial services provider’s stock after purchasing an additional 5,801 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in KeyCorp were worth $3,239,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KEY. Boston Partners increased its holdings in KeyCorp by 37.6% in the fourth quarter. Boston Partners now owns 26,045,044 shares of the financial services provider’s stock valued at $525,329,000 after purchasing an additional 7,123,113 shares during the last quarter. Eaton Vance Management increased its holdings in KeyCorp by 77.6% in the fourth quarter. Eaton Vance Management now owns 11,100,824 shares of the financial services provider’s stock valued at $223,904,000 after purchasing an additional 4,850,008 shares during the last quarter. APG Asset Management N.V. increased its holdings in KeyCorp by 45.9% in the fourth quarter. APG Asset Management N.V. now owns 7,944,416 shares of the financial services provider’s stock valued at $133,443,000 after purchasing an additional 2,497,702 shares during the last quarter. Renaissance Technologies LLC bought a new stake in KeyCorp in the fourth quarter valued at about $49,676,000. Finally, Bessemer Group Inc. increased its holdings 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 during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.
KeyCorp (NYSE KEY) opened at $20.92 on Thursday. KeyCorp has a 52 week low of $16.28 and a 52 week high of $22.40. 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 stock has a market capitalization of $22,656.28, a PE ratio of 15.59, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.
KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same period in the previous year, the firm earned $0.31 earnings per share. equities research analysts predict that KeyCorp will post 1.67 EPS for the current year.
The company also recently disclosed 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. The ex-dividend date is Monday, February 26th. This represents a $0.42 annualized dividend and a dividend yield of 2.01%. KeyCorp’s dividend payout ratio is currently 37.50%.
KEY has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, December 26th. DA Davidson upped their price objective on KeyCorp to $26.00 and gave the company a “buy” rating in a report on Friday, January 19th. Vining Sparks reiterated a “buy” rating and issued a $25.00 price objective on shares of KeyCorp in a report on Thursday, January 18th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.50 price objective on shares of KeyCorp in a report on Thursday, December 14th. Finally, CIBC reiterated a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $22.07.
In other news, insider Christopher M. Gorman sold 56,038 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $20.97, for a total transaction of $1,175,116.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Craig A. Buffie sold 11,819 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $21.21, for a total value of $250,680.99. Following the transaction, the insider now directly owns 51,791 shares of the company’s stock, valued at $1,098,487.11. The disclosure for this sale can be found here. Insiders have sold 92,857 shares of company stock valued at $1,953,548 over the last ninety days. 0.65% of the stock is owned by 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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