Earnest Partners LLC reduced its position in shares of KeyCorp (NYSE:KEY) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,382,553 shares of the financial services provider’s stock after selling 120,337 shares during the period. Earnest Partners LLC owned about 0.22% of KeyCorp worth $48,056,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its stake in shares of KeyCorp by 2.0% in the third 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 acquiring an additional 71,018 shares in the last quarter. New England Research & Management Inc. raised its stake in shares of KeyCorp by 12.8% in the fourth quarter. New England Research & Management Inc. now owns 50,845 shares of the financial services provider’s stock valued at $1,026,000 after acquiring an additional 5,750 shares in the last quarter. M&T Bank Corp raised its stake in shares of KeyCorp by 5.6% in the fourth quarter. M&T Bank Corp now owns 86,925 shares of the financial services provider’s stock valued at $1,754,000 after acquiring an additional 4,576 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in KeyCorp in the third quarter valued at $268,000. Finally, Toronto Dominion Bank raised its stake in KeyCorp by 11.1% in the third 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 in the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.
KeyCorp (KEY) opened at $21.36 on Wednesday. The stock has a market capitalization of $23,122.98, a PE ratio of 19.07, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01. KeyCorp has a twelve month low of $16.28 and a twelve month high of $22.40. 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 (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, hitting the consensus estimate of $0.36. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same quarter last year, the company posted $0.31 earnings per share. sell-side analysts forecast that KeyCorp will post 1.67 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Monday, February 26th. KeyCorp’s payout ratio is 37.50%.
In related news, insider Craig A. Buffie sold 11,819 shares of the firm’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 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 filing with the SEC, which is accessible through this link. Also, insider Christopher M. Gorman sold 56,038 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $20.97, for a total value of $1,175,116.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,857 shares of company stock worth $1,953,548. Corporate insiders own 0.65% of the company’s stock.
A number of analysts have weighed in on the company. CIBC restated a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. Stephens upgraded KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price target on the stock in a research note on Thursday, December 14th. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, December 26th. Vining Sparks restated a “buy” rating and issued a $25.00 price target on shares of KeyCorp in a research note on Thursday, January 18th. Finally, Oppenheimer restated a “hold” rating on shares of KeyCorp in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $22.07.
TRADEMARK VIOLATION NOTICE: This news story was first published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://www.thelincolnianonline.com/2018/03/14/keycorp-key-shares-sold-by-earnest-partners-llc.html.
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.
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.