First Citizens Bank & Trust Co. lessened its stake in shares of KeyCorp (NYSE:KEY) by 16.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,483 shares of the financial services provider’s stock after selling 13,011 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in KeyCorp were worth $1,361,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of KEY. Meeder Asset Management Inc. raised its stake in shares of KeyCorp by 78.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock valued at $1,055,000 after buying an additional 24,554 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of KeyCorp by 2.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,575,887 shares of the financial services provider’s stock valued at $67,299,000 after acquiring an additional 71,018 shares during the period. New England Research & Management Inc. grew its position in shares of KeyCorp by 12.8% during the 4th quarter. New England Research & Management Inc. now owns 50,845 shares of the financial services provider’s stock valued at $1,026,000 after acquiring an additional 5,750 shares during the period. Toronto Dominion Bank grew its position in shares of KeyCorp by 11.1% during the 3rd quarter. Toronto Dominion Bank now owns 428,912 shares of the financial services provider’s stock valued at $8,071,000 after acquiring an additional 42,971 shares during the period. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in shares of KeyCorp during the 3rd quarter valued at about $268,000. Hedge funds and other institutional investors own 81.01% of the company’s stock.
Shares of KeyCorp (KEY) opened at $20.82 on Friday. KeyCorp has a 1-year low of $16.28 and a 1-year high of $21.71. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.06. The company has a market cap of $22,863.00, a PE ratio of 18.26, a PEG ratio of 1.62 and a beta of 1.10.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be issued a dividend of $0.105 per share. The ex-dividend date is Monday, February 26th. This represents a $0.42 annualized dividend and a yield of 2.02%. KeyCorp’s dividend payout ratio is currently 36.84%.
In other KeyCorp news, insider Andrew J. Paine III sold 46,854 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total transaction of $869,610.24. Following the transaction, the insider now directly owns 110,052 shares in the company, valued at $2,042,565.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth R. Gile bought 1,374 shares of the stock in a transaction on Wednesday, November 22nd. The shares were bought at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the transaction, the director now directly owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Insiders have sold 57,212 shares of company stock valued at $1,060,508 over the last three months. 0.65% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently commented on the company. Sandler O’Neill restated a “hold” rating and set a $21.50 target price on shares of KeyCorp in a research report on Friday. DA Davidson lifted their price objective on KeyCorp to $26.00 and gave the stock a “buy” rating in a report on Friday. Sanford C. Bernstein reissued an “outperform” rating and issued a $22.00 target price on shares of KeyCorp in a research note on Wednesday, September 27th. Vining Sparks reissued a “buy” rating and issued a $25.00 target price on shares of KeyCorp in a research note on Thursday. Finally, Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $21.98.
KeyCorp Company Profile
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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