Systematic Financial Management LP lessened its stake in shares of KeyCorp (NYSE:KEY) by 4.2% in the fourth quarter, Holdings Channel reports. The fund owned 1,911,334 shares of the financial services provider’s stock after selling 83,252 shares during the quarter. KeyCorp comprises about 0.8% of Systematic Financial Management LP’s holdings, making the stock its 22nd biggest position. Systematic Financial Management LP’s holdings in KeyCorp were worth $38,552,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Zions Bancorporation lifted its position in shares of KeyCorp by 2,277.5% during the 3rd quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 5,466 shares during the last quarter. Bank of Nova Scotia Trust Co. acquired a new stake in shares of KeyCorp during the 3rd quarter valued at $132,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of KeyCorp in the third quarter valued at $145,000. AllSquare Wealth Management LLC purchased a new stake in shares of KeyCorp in the third quarter valued at $173,000. Finally, Connable Office Inc. purchased a new stake in shares of KeyCorp in the third quarter valued at $195,000. Institutional investors own 81.08% of the company’s stock.
Shares of KeyCorp (NYSE:KEY) opened at $21.02 on Monday. 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 has a 1-year low of $16.28 and a 1-year high of $22.22. The stock has a market capitalization of $22,472.15, a price-to-earnings ratio of 15.34, a P/E/G ratio of 1.33 and a beta of 1.04.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data 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. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company earned $0.31 earnings per share. analysts predict that KeyCorp will post 1.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 2.00%. The ex-dividend date is Monday, February 26th. KeyCorp’s payout ratio is 37.50%.
A number of research firms have recently issued reports on KEY. CIBC restated a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. Stephens upgraded KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 target price for the company in a report on Thursday, December 14th. Vining Sparks restated a “buy” rating and issued a $25.00 target price on shares of KeyCorp in a report on Thursday, January 18th. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Tuesday, December 26th. Finally, Oppenheimer restated a “hold” rating on shares of KeyCorp in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. KeyCorp presently has an average rating of “Buy” and an average price target of $22.07.
In other KeyCorp news, insider Craig A. Buffie sold 11,819 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $21.21, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth R. Gile bought 1,374 shares of the stock in a transaction on Wednesday, November 22nd. The shares were acquired at an average cost of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the transaction, the director now directly owns 24,989 shares of the company’s stock, valued at $455,549.47. The disclosure for this purchase can be found here. Corporate insiders own 0.65% of the company’s stock.
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.
Want to see what other hedge funds are holding KEY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KeyCorp (NYSE:KEY).
Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.