Global X Management Co. LLC decreased its position in KeyCorp (NYSE:KEY) by 16.5% in the 4th quarter, HoldingsChannel reports. The fund owned 54,831 shares of the financial services provider’s stock after selling 10,816 shares during the period. Global X Management Co. LLC’s holdings in KeyCorp were worth $1,106,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the business. Boston Partners raised its holdings in KeyCorp by 37.6% in the 4th quarter. Boston Partners now owns 26,045,044 shares of the financial services provider’s stock valued at $525,329,000 after acquiring an additional 7,123,113 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in 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 valued at $448,990,000 after acquiring an additional 1,765,263 shares in the last quarter. Bessemer Group Inc. raised its holdings in KeyCorp by 17.3% in the 4th 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 in the last quarter. The Manufacturers Life Insurance Company raised its holdings in KeyCorp by 17.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 8,423,396 shares of the financial services provider’s stock valued at $169,899,000 after acquiring an additional 1,222,838 shares in the last quarter. Finally, APG Asset Management N.V. raised its holdings in KeyCorp by 45.9% in the 4th quarter. APG Asset Management N.V. now owns 7,944,416 shares of the financial services provider’s stock valued at $133,443,000 after acquiring an additional 2,497,702 shares in the last quarter. 81.08% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have commented on the company. CIBC reaffirmed a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. Stephens raised KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 target price for the company in a report on Thursday, December 14th. Vining Sparks reissued a “buy” rating and issued a $25.00 target price on shares of KeyCorp in a report on Thursday, January 18th. Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Tuesday, December 26th. Finally, Oppenheimer reissued a “hold” rating on shares of KeyCorp in a report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $22.07.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same period last year, the company earned $0.31 EPS. equities analysts anticipate that KeyCorp will post 1.67 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be given a $0.105 dividend. The ex-dividend date is Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a yield of 2.00%. KeyCorp’s payout ratio is 37.50%.
In other news, Director Elizabeth R. Gile acquired 1,374 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were purchased at an average cost of $18.23 per share, for a total transaction of $25,048.02. Following the transaction, the director now owns 24,989 shares of the company’s stock, valued at $455,549.47. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Craig A. Buffie sold 11,819 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $21.21, for a total value of $250,680.99. Following the completion of the transaction, the insider now owns 51,791 shares in the company, valued at $1,098,487.11. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.
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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