Nomura Asset Management Co. Ltd. boosted its stake in KeyCorp (NYSE:KEY) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,592 shares of the financial services provider’s stock after buying an additional 5,801 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in KeyCorp were worth $3,239,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Zions Bancorporation boosted its stake in KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 5,466 shares in the last quarter. Bank of Nova Scotia Trust Co. bought a new stake in shares of KeyCorp during the third quarter worth $132,000. First National Trust Co. bought a new stake in shares of KeyCorp during the third quarter worth $199,000. Davis R M Inc. bought a new stake in shares of KeyCorp during the fourth quarter worth $217,000. Finally, Noesis Capital Mangement Corp bought a new stake in shares of KeyCorp during the third quarter worth $223,000. 81.70% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on KEY. Deutsche Bank upgraded KeyCorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $23.00 to $24.00 in a research report on Thursday, January 25th. Oppenheimer reiterated a “hold” rating on shares of KeyCorp in a report on Monday, January 22nd. Sandler O’Neill reiterated a “hold” rating and issued a $21.50 price objective on shares of KeyCorp in a report on Friday, January 19th. DA Davidson boosted their target price on KeyCorp to $26.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Finally, Vining Sparks reissued a “buy” rating and issued a $25.00 target price on shares of KeyCorp in a research note on Thursday, January 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $22.14.
In other KeyCorp news, insider Christopher M. Gorman sold 56,038 shares of the firm’s stock in a transaction 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 filing with the SEC, which is available at this link. Also, insider Craig A. Buffie sold 11,819 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 51,791 shares in the company, valued at approximately $1,098,487.11. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,857 shares of company stock worth $1,953,548. Corporate insiders own 0.65% of the company’s stock.
Shares of NYSE KEY opened at $19.09 on Friday. The company has a market cap of $20,863.71, a PE ratio of 14.04, a PEG ratio of 1.24 and a beta of 1.04. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.89. KeyCorp has a 1-year low of $16.28 and a 1-year high of $22.40.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.36. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the company earned $0.31 EPS. equities research analysts predict that KeyCorp will post 1.67 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th were paid a dividend of $0.105 per share. The ex-dividend date was Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a yield of 2.20%. KeyCorp’s dividend payout ratio (DPR) is presently 30.88%.
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KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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