Oakbrook Investments LLC reduced its stake in shares of KeyCorp (NYSE:KEY) by 7.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,266 shares of the financial services provider’s stock after selling 5,250 shares during the period. Oakbrook Investments LLC’s holdings in KeyCorp were worth $1,316,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of KeyCorp by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after purchasing an additional 4,230,390 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of KeyCorp by 8.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock worth $448,990,000 after buying an additional 1,765,263 shares in the last quarter. Boston Partners purchased a new stake in shares of KeyCorp in the 3rd quarter worth about $356,111,000. Northern Trust Corp boosted its position in shares of KeyCorp by 1.9% in the 2nd quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock worth $232,925,000 after buying an additional 231,558 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of KeyCorp by 0.5% in the 3rd quarter. Bessemer Group Inc. now owns 12,065,873 shares of the financial services provider’s stock worth $227,079,000 after buying an additional 64,958 shares in the last quarter. Institutional investors own 81.01% of the company’s stock.
In other news, Director Elizabeth R. Gile bought 1,374 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was purchased at an average price of $18.23 per share, with a total value of $25,048.02. Following the purchase, the director now owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlton L. Highsmith sold 7,600 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $18.39, for a total transaction of $139,764.00. Following the completion of the transaction, the director now directly owns 68,725 shares of the company’s stock, valued at approximately $1,263,852.75. The disclosure for this sale can be found here. Insiders sold a total of 57,212 shares of company stock valued at $1,060,508 in the last three months. 0.65% of the stock is currently owned by corporate insiders.
KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the company posted $0.31 EPS. equities analysts expect that KeyCorp will post 1.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be paid a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.98%. The ex-dividend date is Monday, February 26th. KeyCorp’s payout ratio is 37.50%.
Several equities research analysts recently commented on KEY shares. Sanford C. Bernstein reiterated an “outperform” rating and issued a $22.00 price objective on shares of KeyCorp in a research report on Wednesday, September 27th. Morgan Stanley reiterated an “overweight” rating and issued a $23.00 price objective on shares of KeyCorp in a research report on Thursday, December 14th. ValuEngine upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Oppenheimer reiterated a “hold” rating on shares of KeyCorp in a research report on Friday, October 20th. Finally, Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $21.98.
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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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