Wells Fargo & Company MN grew its holdings in shares of KeyCorp (NYSE:KEY) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,593,311 shares of the financial services provider’s stock after acquiring an additional 230,221 shares during the quarter. Wells Fargo & Company MN’s holdings in KeyCorp were worth $92,648,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of KEY. Zions Bancorporation boosted its position in shares of KeyCorp by 2,277.5% during the 3rd quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 5,466 shares during the last quarter. Bank of Nova Scotia Trust Co. purchased a new position in shares of KeyCorp during the 3rd quarter valued at about $132,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of KeyCorp during the 3rd quarter valued at about $145,000. AllSquare Wealth Management LLC purchased a new position in shares of KeyCorp during the 3rd quarter valued at about $173,000. Finally, Connable Office Inc. purchased a new position in shares of KeyCorp during the 3rd quarter valued at about $195,000. Hedge funds and other institutional investors own 81.08% of the company’s stock.
KeyCorp (NYSE:KEY) opened at $20.53 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market capitalization of $22,504.22, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. KeyCorp has a 12 month low of $16.28 and a 12 month high of $22.22.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be paid 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 2.05%. KeyCorp’s dividend payout ratio (DPR) is currently 37.50%.
In other news, insider Craig A. Buffie sold 11,819 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total transaction of $250,680.99. Following the transaction, the insider now directly owns 51,791 shares of the company’s stock, valued at $1,098,487.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher M. Gorman sold 56,038 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $20.97, for a total value of $1,175,116.86. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.
A number of brokerages recently weighed in on KEY. CIBC reissued 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 price objective on the stock in a report on Thursday, December 14th. Vining Sparks reissued a “buy” rating and set a $25.00 price objective 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 price objective on the stock 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 investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $22.07.
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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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