MetLife Investment Advisors LLC purchased a new stake in KeyCorp (NYSE:KEY) in the fourth quarter, Holdings Channel reports. The firm purchased 332,737 shares of the financial services provider’s stock, valued at approximately $6,711,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Boston Partners raised its holdings in shares of 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 buying an additional 7,123,113 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of 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 buying an additional 1,765,263 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of 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 buying an additional 2,084,290 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of KeyCorp by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 11,450,725 shares of the financial services provider’s stock valued at $230,468,000 after buying an additional 97,817 shares during the last quarter. Finally, Eaton Vance Management increased its position 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 worth $223,904,000 after purchasing an additional 4,850,008 shares during the period. 81.68% of the stock is owned by institutional investors and hedge funds.
KeyCorp (KEY) opened at $20.02 on Friday. The stock has a market capitalization of $22,242.61, a PE ratio of 15.31, a PEG ratio of 1.32 and a beta of 1.01. KeyCorp has a 12-month low of $16.28 and a 12-month high of $22.40. 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 (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, hitting the Thomson Reuters’ 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 return on equity of 10.66% and a net margin of 18.06%. During the same period in the previous year, the company earned $0.31 EPS. equities research analysts predict that KeyCorp will post 1.67 earnings per share for the current fiscal year.
The business also recently announced 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 of this dividend was Monday, February 26th. This represents a $0.42 annualized dividend and a dividend yield of 2.10%. KeyCorp’s payout ratio is currently 37.50%.
In related news, insider Christopher M. Gorman sold 56,038 shares of the business’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Craig A. Buffie sold 11,819 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $21.21, for a total value of $250,680.99. Following the completion of the transaction, the insider now 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 a total of 92,857 shares of company stock valued at $1,953,548 over the last 90 days. Corporate insiders own 0.65% of the company’s stock.
A number of analysts recently commented on KEY shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $21.50 price objective on shares of KeyCorp in a research report on Thursday, December 14th. CIBC reiterated 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. 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 research report on Tuesday, December 26th. Finally, DA Davidson lifted their price objective on KeyCorp to $26.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. 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 stock presently has an average rating of “Buy” and an average price target of $22.07.
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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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