Guggenheim Capital LLC reduced its stake in shares of KeyCorp (NYSE:KEY) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,586,746 shares of the financial services provider’s stock after selling 50,895 shares during the period. Guggenheim Capital LLC owned about 0.34% of KeyCorp worth $72,344,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased 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 worth $67,299,000 after purchasing an additional 71,018 shares in the last quarter. New England Research & Management Inc. boosted its stake in shares of KeyCorp by 12.8% in the 4th quarter. New England Research & Management Inc. now owns 50,845 shares of the financial services provider’s stock worth $1,026,000 after buying an additional 5,750 shares during the last quarter. M&T Bank Corp boosted its stake in shares of KeyCorp by 5.6% in the 4th quarter. M&T Bank Corp now owns 86,925 shares of the financial services provider’s stock worth $1,754,000 after buying an additional 4,576 shares during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in shares of KeyCorp in the 3rd quarter worth approximately $268,000. Finally, Toronto Dominion Bank boosted its stake in shares of KeyCorp by 11.1% in the 3rd quarter. Toronto Dominion Bank now owns 428,912 shares of the financial services provider’s stock worth $8,071,000 after buying an additional 42,971 shares during the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on KEY. Oppenheimer restated a “hold” rating on shares of KeyCorp in a research note on Monday, January 22nd. Sandler O’Neill reiterated a “hold” rating and issued a $21.50 price objective on shares of KeyCorp in a research note on Friday, January 19th. ValuEngine downgraded KeyCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. Deutsche Bank upgraded KeyCorp from a “hold” rating to a “buy” rating and upped their price objective for the company from $23.00 to $24.00 in a research note on Thursday, January 25th. Finally, Vining Sparks reiterated a “buy” rating and issued a $25.00 price objective on shares of KeyCorp in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $22.07.
KeyCorp (KEY) opened at $22.15 on Monday. The company has a market capitalization of $23,494.22, a price-to-earnings ratio of 19.78, a P/E/G ratio of 1.40 and a beta of 1.01. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.89 and a quick ratio of 0.88. KeyCorp has a 12 month low of $16.28 and a 12 month high of $22.22.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.36 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 analysts’ expectations of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same quarter in the prior year, the firm earned $0.31 earnings per share. equities analysts forecast that KeyCorp will post 1.67 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be paid a $0.105 dividend. The ex-dividend date is Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a yield of 1.90%. KeyCorp’s dividend payout ratio is presently 37.50%.
In related news, insider Craig A. Buffie sold 11,819 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total value of $250,680.99. Following the transaction, the insider now owns 51,791 shares of the company’s stock, valued at $1,098,487.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert A. Deangelis sold 25,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $21.11, for a total value of $527,750.00. Following the completion of the transaction, the insider now directly owns 175,053 shares in the company, valued at approximately $3,695,368.83. The disclosure for this sale can be found here. In the last three months, insiders sold 92,857 shares of company stock worth $1,953,548. 0.65% of the stock is owned by insiders.
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KeyCorp Company Profile
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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