Timber Hill LLC bought a new stake in KeyCorp (NYSE:KEY) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 191,638 shares of the financial services provider’s stock, valued at approximately $3,747,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Boston Partners grew its position in KeyCorp by 1.1% in the first quarter. Boston Partners now owns 26,320,920 shares of the financial services provider’s stock valued at $514,573,000 after acquiring an additional 275,876 shares during the last quarter. Bessemer Group Inc. grew its position in KeyCorp by 17.3% in the fourth quarter. Bessemer Group Inc. now owns 14,150,163 shares of the financial services provider’s stock valued at $285,409,000 after acquiring an additional 2,084,290 shares during the last quarter. LSV Asset Management grew its position in KeyCorp by 3.9% in the first quarter. LSV Asset Management now owns 12,259,981 shares of the financial services provider’s stock valued at $239,682,000 after acquiring an additional 459,594 shares during the last quarter. Geode Capital Management LLC grew its position in KeyCorp by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 11,450,725 shares of the financial services provider’s stock valued at $230,468,000 after acquiring an additional 97,817 shares during the last quarter. Finally, Eaton Vance Management grew its position in KeyCorp by 77.6% in the fourth quarter. Eaton Vance Management now owns 11,100,824 shares of the financial services provider’s stock valued at $223,904,000 after acquiring an additional 4,850,008 shares during the last quarter. Hedge funds and other institutional investors own 80.06% of the company’s stock.
KeyCorp stock opened at $20.14 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $21.88 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.28 and a beta of 1.05. KeyCorp has a one year low of $16.28 and a one year high of $22.40.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 19th. The financial services provider reported $0.38 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.38. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a return on equity of 11.03% and a net margin of 19.32%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 earnings per share. equities analysts predict that KeyCorp will post 1.7 earnings per share 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 positive change from KeyCorp’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Friday, May 25th. KeyCorp’s payout ratio is currently 30.88%.
A number of research analysts have issued reports on the company. Zacks Investment Research cut KeyCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Susquehanna Bancshares upgraded KeyCorp from a “neutral” rating to a “positive” rating and lifted their target price for the company from $24.00 to $25.00 in a research report on Tuesday, April 24th. Vining Sparks reiterated a “buy” rating and issued a $25.00 target price on shares of KeyCorp in a research report on Friday, April 6th. Morgan Stanley boosted their price target on KeyCorp from $24.50 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, April 24th. Finally, BMO Capital Markets reduced their price target on KeyCorp from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, April 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.45.
In related news, insider Edward J. Burke sold 10,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $19.83, for a total value of $198,300.00. Following the transaction, the insider now directly owns 126,526 shares of the company’s stock, valued at $2,509,010.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.65% of the stock is owned by insiders.
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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