A.R.T. Advisors LLC trimmed its stake in KeyCorp (NYSE:KEY) by 84.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,800 shares of the financial services provider’s stock after selling 381,300 shares during the period. A.R.T. Advisors LLC’s holdings in KeyCorp were worth $1,345,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of KEY. Two Sigma Investments LP grew its position in shares of KeyCorp by 24,671.7% in the 4th quarter. Two Sigma Investments LP now owns 2,948,598 shares of the financial services provider’s stock valued at $59,473,000 after buying an additional 2,960,598 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of KeyCorp in the 4th quarter valued at $49,676,000. Thrivent Financial for Lutherans grew its position in shares of KeyCorp by 38.0% in the 1st quarter. Thrivent Financial for Lutherans now owns 8,108,123 shares of the financial services provider’s stock valued at $158,514,000 after buying an additional 2,231,623 shares during the last quarter. FIL Ltd purchased a new position in shares of KeyCorp in the 1st quarter valued at $42,919,000. Finally, OppenheimerFunds Inc. grew its position in shares of KeyCorp by 46.0% in the 1st quarter. OppenheimerFunds Inc. now owns 4,712,551 shares of the financial services provider’s stock valued at $92,131,000 after buying an additional 1,483,690 shares during the last quarter. 79.88% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Edward J. Burke sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $19.83, for a total value of $198,300.00. Following the completion of the sale, the insider now owns 126,526 shares in the company, valued at approximately $2,509,010.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.65% of the stock is currently owned by company insiders.
KEY has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. Morgan Stanley increased their target price on shares of KeyCorp from $24.50 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, April 24th. ValuEngine downgraded shares of KeyCorp from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Vining Sparks reissued a “buy” rating and set a $25.00 price objective on shares of KeyCorp in a research report on Friday, April 6th. Finally, Susquehanna Bancshares raised shares of KeyCorp from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $24.00 to $25.00 in a research report on Tuesday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $22.45.
KEY stock opened at $20.40 on Friday. KeyCorp has a one year low of $16.28 and a one year high of $22.40. The firm has a market capitalization of $21.81 billion, a PE ratio of 15.00, a PEG ratio of 1.27 and a beta of 1.02. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.99.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, April 19th. The financial services provider reported $0.38 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. KeyCorp had a net margin of 19.32% and a return on equity of 11.03%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business earned $0.32 EPS. The business’s revenue was up 3.1% on a year-over-year basis. research analysts expect that KeyCorp will post 1.7 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Tuesday, May 29th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, May 25th. This is a boost from KeyCorp’s previous quarterly dividend of $0.11. KeyCorp’s dividend payout ratio (DPR) is 35.29%.
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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