Rampart Investment Management Company LLC reduced its position in KeyCorp (NYSE:KEY) by 59.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,939 shares of the financial services provider’s stock after selling 18,713 shares during the quarter. Rampart Investment Management Company LLC’s holdings in KeyCorp were worth $230,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in KEY. Geode Capital Management LLC raised its holdings in shares of KeyCorp by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 13,284,088 shares of the financial services provider’s stock valued at $195,989,000 after acquiring an additional 767,195 shares in the last quarter. Buckingham Capital Management Inc. bought a new stake in shares of KeyCorp in the first quarter valued at about $949,000. TD Asset Management Inc. raised its holdings in shares of KeyCorp by 22.4% in the first quarter. TD Asset Management Inc. now owns 447,018 shares of the financial services provider’s stock valued at $7,040,000 after acquiring an additional 81,898 shares in the last quarter. Sentry Investment Management LLC purchased a new position in KeyCorp in the first quarter valued at about $891,000. Finally, Keybank National Association OH grew its stake in KeyCorp by 186.3% in the first quarter. Keybank National Association OH now owns 36,374 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 23,670 shares during the last quarter. Hedge funds and other institutional investors own 80.08% of the company’s stock.
Several equities analysts have issued reports on KEY shares. BMO Capital Markets lifted their target price on KeyCorp from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Nomura set a $18.00 target price on KeyCorp and gave the company a “hold” rating in a research note on Friday, July 26th. Robert W. Baird upgraded KeyCorp from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $18.00 to $19.00 in a research note on Friday, June 21st. Credit Suisse Group upgraded KeyCorp from an “average” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, August 7th. Finally, Zacks Investment Research lowered KeyCorp from a “hold” rating to a “sell” rating and set a $20.00 target price on the stock. in a research note on Monday, July 8th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $23.78.
In related news, insider Andrew J. Paine III sold 99,999 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $18.26, for a total value of $1,825,981.74. Following the sale, the insider now owns 85,469 shares in the company, valued at $1,560,663.94. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Amy G. Brady sold 10,806 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $18.02, for a total value of $194,724.12. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.
Shares of KEY stock traded down $0.28 during trading hours on Friday, reaching $17.77. 19,473,058 shares of the company’s stock were exchanged, compared to its average volume of 8,329,713. KeyCorp has a 1 year low of $13.65 and a 1 year high of $20.96. The stock has a market cap of $18.27 billion, a PE ratio of 10.27, a PEG ratio of 3.12 and a beta of 1.28. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. The stock’s fifty day moving average price is $16.83 and its two-hundred day moving average price is $16.98.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.44 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.44. KeyCorp had a return on equity of 12.82% and a net margin of 23.15%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. On average, equities analysts expect that KeyCorp will post 1.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were paid a dividend of $0.185 per share. This is a positive change from KeyCorp’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 4.16%. KeyCorp’s payout ratio is presently 42.77%.
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.
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