New England Research & Management Inc. lifted its stake in shares of KeyCorp (NYSE:KEY) by 12.8% during the 4th quarter, Holdings Channel reports. The firm owned 50,845 shares of the financial services provider’s stock after purchasing an additional 5,750 shares during the quarter. New England Research & Management Inc.’s holdings in KeyCorp were worth $1,026,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Boston Partners acquired a new position in KeyCorp in the third quarter valued at approximately $356,111,000. Janus Henderson Group PLC lifted its holdings in KeyCorp by 6,189.4% in the second quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock valued at $170,679,000 after acquiring an additional 8,962,913 shares during the last quarter. Vanguard Group Inc. lifted its holdings in KeyCorp by 3.9% in the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock valued at $2,087,987,000 after acquiring an additional 4,230,390 shares during the last quarter. Samlyn Capital LLC acquired a new position in KeyCorp in the second quarter valued at approximately $57,111,000. Finally, BlackRock Inc. lifted its holdings in KeyCorp by 2.7% in the second quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock valued at $1,624,654,000 after acquiring an additional 2,280,450 shares during the last quarter. Institutional investors and hedge funds own 80.91% of the company’s stock.
A number of research analysts recently commented on KEY shares. CIBC reiterated a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. Zacks Investment Research lowered KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Stephens raised KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 target price on the stock in a research report on Thursday, December 14th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.50 target price on shares of KeyCorp in a research report on Thursday, December 14th. Finally, Sanford C. Bernstein raised KeyCorp from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $21.00 to $22.00 in a research report on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $21.56.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the company earned $0.30 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. equities research analysts expect that KeyCorp will post 1.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th were given a dividend of $0.105 per share. The ex-dividend date was Monday, November 27th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.07%. This is a positive change from KeyCorp’s previous quarterly dividend of $0.10. KeyCorp’s dividend payout ratio is currently 36.52%.
In other news, insider Andrew J. Paine III sold 46,854 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total transaction of $869,610.24. Following the sale, the insider now owns 110,052 shares of the company’s stock, valued at $2,042,565.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlton L. Highsmith sold 7,600 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $18.39, for a total value of $139,764.00. Following the sale, the director now directly owns 68,725 shares in the company, valued at approximately $1,263,852.75. The disclosure for this sale can be found here. Insiders have sold 57,212 shares of company stock worth $1,060,508 in the last ninety days. Corporate insiders own 0.65% of the company’s stock.
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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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