Rhumbline Advisers Sells 43,807 Shares of KeyCorp (KEY)

Rhumbline Advisers lowered its position in KeyCorp (NYSE:KEY) by 2.1% in the 4th quarter, Holdings Channel reports. The fund owned 2,033,884 shares of the financial services provider’s stock after selling 43,807 shares during the period. Rhumbline Advisers’ holdings in KeyCorp were worth $41,023,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its holdings in KeyCorp by 0.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 24,886 shares of the financial services provider’s stock valued at $466,000 after buying an additional 216 shares in the last quarter. Eqis Capital Management Inc. grew its holdings in KeyCorp by 31.0% during the 3rd quarter. Eqis Capital Management Inc. now owns 15,199 shares of the financial services provider’s stock valued at $286,000 after buying an additional 3,600 shares in the last quarter. Shell Asset Management Co. grew its holdings in KeyCorp by 122.3% during the 3rd quarter. Shell Asset Management Co. now owns 141,462 shares of the financial services provider’s stock valued at $1,886,000 after buying an additional 77,830 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in KeyCorp during the 3rd quarter valued at about $919,000. Finally, Meeder Asset Management Inc. grew its holdings in 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 in the last quarter. 81.08% of the stock is owned by institutional investors.

Shares of KeyCorp (NYSE:KEY) opened at $21.02 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.89 and a quick ratio of 0.88. KeyCorp has a 12-month low of $16.28 and a 12-month high of $22.22. The firm has a market capitalization of $22,472.15, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data 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. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. 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 earnings per share. equities research analysts forecast that KeyCorp will post 1.67 EPS for the current fiscal year.

The business 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 of this dividend is Monday, February 26th. This represents a $0.42 annualized dividend and a yield of 2.00%. KeyCorp’s payout ratio is currently 37.50%.

In other KeyCorp news, insider Christopher M. Gorman sold 56,038 shares of the business’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth R. Gile acquired 1,374 shares of the stock in a transaction on Wednesday, November 22nd. The stock was bought at an average price of $18.23 per share, with a total value of $25,048.02. Following 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 own 0.65% of the company’s stock.

A number of research firms have weighed in on KEY. CIBC reaffirmed a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. Barclays lifted their target price on KeyCorp from $19.00 to $23.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. 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. DA Davidson lifted their target price on KeyCorp to $26.00 and gave the company a “buy” rating in a report on Friday, January 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.50 target price on shares of KeyCorp in a report on Thursday, December 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $22.07.

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About KeyCorp

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.

Want to see what other hedge funds are holding KEY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KeyCorp (NYSE:KEY).

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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