Wealthfront Inc. trimmed its holdings in KeyCorp (NYSE:KEY) by 30.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 51,002 shares of the financial services provider’s stock after selling 22,678 shares during the quarter. Wealthfront Inc.’s holdings in KeyCorp were worth $1,029,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. raised its holdings in KeyCorp by 78.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock valued at $1,055,000 after buying an additional 24,554 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in KeyCorp by 2.0% during the 3rd 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 buying an additional 71,018 shares during the last quarter. New England Research & Management Inc. raised its holdings in 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 valued at $1,026,000 after buying an additional 5,750 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new stake in KeyCorp during the 3rd quarter valued at $268,000. Finally, Toronto Dominion Bank raised its holdings in KeyCorp by 11.1% during the 3rd quarter. Toronto Dominion Bank now owns 428,912 shares of the financial services provider’s stock valued at $8,071,000 after buying an additional 42,971 shares during the last quarter. Hedge funds and other institutional investors own 81.08% of the company’s stock.
A number of equities research analysts recently commented on the stock. Oppenheimer reiterated a “hold” rating on shares of KeyCorp in a report on Monday, January 22nd. Zacks Investment Research lowered shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Sandler O’Neill reiterated a “hold” rating and set a $21.50 price target on shares of KeyCorp in a report on Friday, January 19th. Deutsche Bank upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and upped their price target for the company from $23.00 to $24.00 in a report on Thursday, January 25th. Finally, ValuEngine lowered shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $22.07.
KeyCorp (NYSE KEY) opened at $21.05 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The stock has a market cap of $22,640.00, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 1.32 and a beta of 1.04. KeyCorp has a 1 year low of $16.28 and a 1 year high of $22.22.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.31 EPS. equities research analysts predict that KeyCorp will post 1.67 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th will be given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Monday, February 26th. KeyCorp’s dividend payout ratio is presently 33.33%.
In other news, insider Christopher M. Gorman sold 56,038 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $20.97, for a total value of $1,175,116.86. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Craig A. Buffie sold 11,819 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was 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 in the company, valued at $1,098,487.11. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.
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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