Timber Hill LLC bought a new stake in KeyCorp (NYSE:KEY) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 191,638 shares of the financial services provider’s stock, valued at approximately $3,747,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of KEY. Boston Partners grew its position in KeyCorp by 37.6% during the 4th quarter. Boston Partners now owns 26,045,044 shares of the financial services provider’s stock worth $525,329,000 after purchasing an additional 7,123,113 shares during the last quarter. Eaton Vance Management grew its position in KeyCorp by 77.6% during 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. Two Sigma Investments LP grew its position in KeyCorp by 24,671.7% during the 4th quarter. Two Sigma Investments LP now owns 2,948,598 shares of the financial services provider’s stock worth $59,473,000 after purchasing an additional 2,960,598 shares during the last quarter. APG Asset Management N.V. grew its position in KeyCorp by 45.9% during the 4th quarter. APG Asset Management N.V. now owns 7,944,416 shares of the financial services provider’s stock worth $133,443,000 after purchasing an additional 2,497,702 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in KeyCorp during the 4th quarter worth $49,676,000. 81.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of KeyCorp opened at $20.35 on Thursday, according to MarketBeat. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.99. KeyCorp has a 52 week low of $20.31 and a 52 week high of $20.51. The stock has a market capitalization of $21.73 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.27 and a beta of 1.05.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 19th. The financial services provider reported $0.38 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. KeyCorp had a net margin of 19.32% and a return on equity of 11.03%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business earned $0.32 earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. research analysts anticipate that KeyCorp will post 1.7 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, May 29th will be paid a $0.12 dividend. This is a boost from KeyCorp’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, May 25th. This represents a $0.48 annualized dividend and a dividend yield of 2.36%. KeyCorp’s dividend payout ratio (DPR) is 30.88%.
Several analysts have recently weighed in on the stock. ValuEngine downgraded shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Morgan Stanley lifted their target price on shares of KeyCorp from $24.50 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, April 24th. Vining Sparks reaffirmed a “buy” rating and issued a $25.00 target price on shares of KeyCorp in a report on Friday, April 6th. DA Davidson lifted their target price on shares of KeyCorp to $26.00 and gave the company a “buy” rating in a report on Friday, January 19th. Finally, Sandler O’Neill reaffirmed a “hold” rating and issued a $21.50 target price on shares of KeyCorp in a report on Friday, January 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $22.45.
In related news, insider Robert A. Deangelis sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now 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 can be accessed through the SEC website. Also, insider Edward J. Burke sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $19.83, for a total transaction of $198,300.00. Following the completion of the sale, the insider now owns 126,526 shares of the company’s stock, valued at approximately $2,509,010.58. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.
KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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