Sapphire Star Partners LP cut its stake in KeyCorp (NYSE:KEY) by 37.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,800 shares of the financial services provider’s stock after selling 25,400 shares during the period. Sapphire Star Partners LP’s holdings in KeyCorp were worth $843,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Boston Partners boosted its position in KeyCorp by 37.6% during the fourth quarter. Boston Partners now owns 26,045,044 shares of the financial services provider’s stock worth $525,329,000 after acquiring an additional 7,123,113 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in KeyCorp by 8.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock worth $448,990,000 after buying an additional 1,765,263 shares during the period. Bessemer Group Inc. increased its stake in KeyCorp by 17.3% during the 4th quarter. Bessemer Group Inc. now owns 14,150,163 shares of the financial services provider’s stock worth $285,409,000 after buying an additional 2,084,290 shares during the period. Geode Capital Management LLC increased its stake in KeyCorp by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 11,450,725 shares of the financial services provider’s stock worth $230,468,000 after buying an additional 97,817 shares during the period. Finally, Eaton Vance Management increased its position in shares of KeyCorp by 77.6% in the 4th quarter. Eaton Vance Management now owns 11,100,824 shares of the financial services provider’s stock worth $223,904,000 after purchasing an additional 4,850,008 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on KEY shares. Zacks Investment Research lowered shares of KeyCorp from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a report on Wednesday, January 3rd. DA Davidson lifted their price target on shares of KeyCorp to $26.00 and gave the company a “buy” rating in a report on Friday, January 19th. Morgan Stanley reissued an “overweight” rating and set a $23.00 target price on shares of KeyCorp in a research note on Thursday, December 14th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $21.50 target price on shares of KeyCorp in a research note on Thursday, December 14th. Finally, ValuEngine raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $22.07.
In related news, insider Robert A. Deangelis sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $21.11, for a total value of $527,750.00. Following the sale, the insider now directly owns 175,053 shares in the company, valued at $3,695,368.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher M. Gorman sold 56,038 shares of the stock in a transaction that occurred on 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 three months, insiders have sold 92,857 shares of company stock valued at $1,953,548. Insiders own 0.65% of the company’s stock.
Shares of KeyCorp (NYSE KEY) traded down $0.02 during trading on Thursday, hitting $20.90. 748,249 shares of the stock were exchanged, compared to its average volume of 10,226,271. The company has a market capitalization of $22,656.28, a PE ratio of 18.68, a PEG ratio of 1.35 and a beta of 1.01. KeyCorp has a 52 week low of $16.28 and a 52 week high of $22.40. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.89.
KeyCorp (NYSE:KEY) last posted its quarterly 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 during the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.31 earnings per share. equities analysts anticipate 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 paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Monday, February 26th. KeyCorp’s payout ratio is 37.50%.
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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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