Jafra Capital Management LP acquired a new position in KeyCorp (NYSE:KEY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 127,490 shares of the financial services provider’s stock, valued at approximately $2,571,000.
A number of other large investors have also modified their holdings of KEY. Schwab Charles Investment Management Inc. lifted its position in KeyCorp by 2.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 3,575,887 shares of the financial services provider’s stock valued at $67,299,000 after purchasing an additional 71,018 shares during the period. New England Research & Management Inc. raised its position in shares of KeyCorp by 12.8% during the 4th quarter. New England Research & Management Inc. now owns 50,845 shares of the financial services provider’s stock worth $1,026,000 after purchasing an additional 5,750 shares during the last quarter. M&T Bank Corp raised its position in shares of KeyCorp by 5.6% during the 4th quarter. M&T Bank Corp now owns 86,925 shares of the financial services provider’s stock worth $1,754,000 after purchasing an additional 4,576 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in shares of KeyCorp during the 3rd quarter worth about $268,000. Finally, Toronto Dominion Bank raised its position in shares of KeyCorp by 11.1% during the 3rd quarter. Toronto Dominion Bank now owns 428,912 shares of the financial services provider’s stock worth $8,071,000 after purchasing an additional 42,971 shares during the last quarter. 81.76% of the stock is owned by institutional investors.
Shares of KeyCorp (NYSE:KEY) traded up $0.05 during trading hours on Friday, hitting $20.96. 14,733,027 shares of the company’s stock were exchanged, compared to its average volume of 10,435,112. The firm has a market capitalization of $22,189.57, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. 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.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same period in the prior year, the company earned $0.31 earnings per share. sell-side analysts predict that KeyCorp will post 1.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th were given a dividend of $0.105 per share. The ex-dividend date was Monday, February 26th. This represents a $0.42 annualized dividend and a dividend yield of 2.00%. KeyCorp’s dividend payout ratio is currently 37.50%.
KEY has been the subject of several research reports. ValuEngine cut shares of KeyCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. CIBC reiterated a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 target price on the stock in a report on Thursday, December 14th. Morgan Stanley restated an “overweight” rating and issued a $23.00 price objective on shares of KeyCorp in a report on Thursday, December 14th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $21.50 target price on shares of KeyCorp in a research report on Thursday, December 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $22.07.
In other KeyCorp news, insider Craig A. Buffie sold 11,819 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $21.21, for a total transaction of $250,680.99. Following the completion of the sale, the insider now directly owns 51,791 shares of the company’s stock, valued at $1,098,487.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert A. Deangelis sold 25,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $21.11, for a total transaction of $527,750.00. Following the sale, the insider now directly owns 175,053 shares of the company’s stock, valued at $3,695,368.83. The disclosure for this sale can be found here. Insiders have sold 92,857 shares of company stock valued at $1,953,548 in the last 90 days. Insiders own 0.65% of the company’s stock.
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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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