Wetherby Asset Management Inc. increased its holdings in KeyCorp (NYSE:KEY) by 36.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,949 shares of the financial services provider’s stock after purchasing an additional 6,887 shares during the period. Wetherby Asset Management Inc.’s holdings in KeyCorp were worth $524,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of KEY. Ameritas Investment Partners Inc. lifted its holdings in KeyCorp by 0.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 24,886 shares of the financial services provider’s stock worth $466,000 after purchasing an additional 216 shares in the last quarter. Eqis Capital Management Inc. lifted its holdings in KeyCorp by 31.0% in the 3rd quarter. Eqis Capital Management Inc. now owns 15,199 shares of the financial services provider’s stock worth $286,000 after purchasing an additional 3,600 shares in the last quarter. Shell Asset Management Co. lifted its holdings in KeyCorp by 122.3% in the 3rd quarter. Shell Asset Management Co. now owns 141,462 shares of the financial services provider’s stock worth $1,886,000 after purchasing an additional 77,830 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in KeyCorp in the 3rd quarter worth approximately $919,000. Finally, Meeder Asset Management Inc. lifted its holdings in KeyCorp by 78.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock worth $1,055,000 after purchasing an additional 24,554 shares in the last quarter. 81.08% of the stock is currently owned by institutional investors.
A number of research firms recently commented on KEY. Deutsche Bank raised KeyCorp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $23.00 to $24.00 in a report on Thursday, January 25th. Oppenheimer reaffirmed a “hold” rating on shares of KeyCorp in a research note on Monday, January 22nd. Sandler O’Neill reaffirmed a “hold” rating and issued a $21.50 price objective on shares of KeyCorp in a research note on Friday, January 19th. DA Davidson lifted their price objective on KeyCorp to $26.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, Vining Sparks reaffirmed a “buy” rating and issued a $25.00 price objective on shares of KeyCorp in a research note on Thursday, January 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the stock. KeyCorp has an average rating of “Buy” and an average target price of $22.07.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same quarter in the previous year, the company posted $0.31 EPS. analysts forecast that KeyCorp will post 1.67 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th will be given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Monday, February 26th. KeyCorp’s dividend payout ratio is currently 37.50%.
In other KeyCorp news, insider Christopher M. Gorman sold 56,038 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $20.97, for a total value of $1,175,116.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Craig A. Buffie sold 11,819 shares of the company’s 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 directly owns 51,791 shares in the company, valued at approximately $1,098,487.11. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
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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