ING Groep NV raised its stake in shares of KeyCorp (NYSE:KEY) by 54.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,245 shares of the financial services provider’s stock after buying an additional 22,059 shares during the period. ING Groep NV’s holdings in KeyCorp were worth $1,127,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. MCF Advisors LLC raised its position in shares of KeyCorp by 0.7% in the third quarter. MCF Advisors LLC now owns 8,598 shares of the financial services provider’s stock valued at $105,000 after buying an additional 59 shares in the last quarter. MSI Financial Services Inc raised its position in shares of KeyCorp by 10.6% in the third quarter. MSI Financial Services Inc now owns 8,993 shares of the financial services provider’s stock valued at $109,000 after buying an additional 860 shares in the last quarter. Virtus Investment Advisers Inc. acquired a new position in shares of KeyCorp during the third quarter valued at about $109,000. Cutler Capital Management LLC acquired a new position in shares of KeyCorp during the third quarter valued at about $121,000. Finally, Wealthfront Inc. acquired a new position in shares of KeyCorp during the second quarter valued at about $123,000. 79.48% of the stock is currently owned by institutional investors.
Shares of KeyCorp (NYSE:KEY) traded up 1.70% during trading on Monday, hitting $18.57. The company’s stock had a trading volume of 5,582,477 shares. The stock has a market cap of $20.04 billion, a PE ratio of 23.18 and a beta of 1.13. KeyCorp has a one year low of $10.15 and a one year high of $18.77. The company has a 50-day moving average price of $18.20 and a 200-day moving average price of $15.00.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, January 19th. The financial services provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. KeyCorp had a net margin of 13.99% and a return on equity of 8.73%. During the same quarter last year, the business earned $0.27 EPS. Equities analysts predict that KeyCorp will post $1.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be paid a dividend of $0.085 per share. The ex-dividend date of this dividend is Friday, February 24th. This represents a $0.34 annualized dividend and a yield of 1.86%. KeyCorp’s dividend payout ratio (DPR) is 42.50%.
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Several research analysts recently issued reports on the company. Sanford C. Bernstein lowered KeyCorp from an “outperform” rating to a “market perform” rating and upped their target price for the company from $17.00 to $19.00 in a research report on Wednesday, November 16th. They noted that the move was a valuation call. Rafferty Capital Markets upgraded KeyCorp from a “hold” rating to a “buy” rating in a research note on Tuesday, October 25th. Vetr downgraded KeyCorp from a “strong-buy” rating to a “buy” rating and set a $14.14 price target on the stock. in a research note on Wednesday, October 19th. FBR & Co reiterated a “buy” rating and set a $21.00 price target on shares of KeyCorp in a research note on Friday, January 20th. Finally, Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, January 24th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.15.
In other KeyCorp news, Director Ruth Ann M. Gillis acquired 4,800 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The shares were purchased at an average price of $17.66 per share, for a total transaction of $84,768.00. Following the completion of the purchase, the director now directly owns 5,934 shares in the company, valued at $104,794.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by corporate insiders.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
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