New England Research & Management Inc. grew its holdings in KeyCorp (NYSE:KEY) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,245 shares of the financial services provider’s stock after purchasing an additional 1,800 shares during the period. New England Research & Management Inc.’s holdings in KeyCorp were worth $743,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of KEY. IMS Capital Management acquired a new position in shares of KeyCorp in the 3rd quarter valued at about $106,000. Reilly Financial Advisors LLC increased its holdings in shares of KeyCorp by 408.3% in the 3rd quarter. Reilly Financial Advisors LLC now owns 6,354 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 5,104 shares during the period. Zions Bancorporation acquired a new position in shares of KeyCorp in the 3rd quarter valued at about $138,000. Smithfield Trust Co. increased its holdings in shares of KeyCorp by 89.8% in the 3rd quarter. Smithfield Trust Co. now owns 8,537 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 4,040 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in shares of KeyCorp in the 2nd quarter valued at about $173,000. Institutional investors own 79.44% of the company’s stock.
In other KeyCorp news, insider Donald R. Kimble acquired 5,000 shares of KeyCorp stock in a transaction dated Friday, November 2nd. The stock was bought at an average cost of $18.55 per share, with a total value of $92,750.00. Following the completion of the transaction, the insider now owns 253,847 shares of the company’s stock, valued at $4,708,861.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Beth E. Mooney acquired 10,000 shares of KeyCorp stock in a transaction dated Thursday, November 1st. The stock was acquired at an average cost of $18.26 per share, with a total value of $182,600.00. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by corporate insiders.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. KeyCorp had a return on equity of 12.56% and a net margin of 21.47%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the business earned $0.32 earnings per share. KeyCorp’s revenue for the quarter was up 3.1% compared to the same quarter last year. Sell-side analysts anticipate that KeyCorp will post 1.74 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.26%. KeyCorp’s dividend payout ratio is 50.00%.
A number of research firms recently commented on KEY. ValuEngine downgraded KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Barclays dropped their price objective on KeyCorp from $23.00 to $20.00 and set an “underweight” rating on the stock in a report on Wednesday, January 2nd. Sandler O’Neill upgraded KeyCorp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $16.50 to $19.00 in a report on Friday. BMO Capital Markets restated a “buy” rating and issued a $19.00 price objective on shares of KeyCorp in a report on Tuesday, December 18th. Finally, Nomura dropped their price objective on KeyCorp from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, October 19th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $22.29.
KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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