Earnest Partners LLC lessened its holdings in KeyCorp (NYSE:KEY) by 4.8% during the fourth quarter, HoldingsChannel reports. The firm owned 2,382,553 shares of the financial services provider’s stock after selling 120,337 shares during the quarter. Earnest Partners LLC’s holdings in KeyCorp were worth $48,056,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Zions Bancorporation lifted 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 period. Bank of Nova Scotia Trust Co. acquired a new stake in shares of KeyCorp during the 3rd quarter valued at approximately $132,000. First National Trust Co. acquired a new stake in shares of KeyCorp during the 3rd quarter valued at approximately $199,000. Davis R M Inc. acquired a new stake in shares of KeyCorp during the 4th quarter valued at approximately $217,000. Finally, Noesis Capital Mangement Corp acquired a new stake in shares of KeyCorp during the 3rd quarter valued at approximately $223,000. 81.76% of the stock is currently owned by institutional investors.
KeyCorp (KEY) opened at $21.36 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $23,122.98, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01. KeyCorp has a twelve month low of $16.28 and a twelve month high of $22.40.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be issued 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 1.97%. KeyCorp’s dividend payout ratio (DPR) is presently 37.50%.
A number of equities research analysts have recently issued reports on the stock. CIBC reiterated a “buy” rating on shares of KeyCorp in a research report on Friday, December 8th. Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price target for the company in a research report on Thursday, December 14th. Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Tuesday, December 26th. Vining Sparks restated a “buy” rating and set a $25.00 price objective on shares of KeyCorp in a research report on Thursday, January 18th. Finally, Oppenheimer restated a “hold” rating on shares of KeyCorp in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $22.07.
In other KeyCorp news, insider Robert A. Deangelis sold 25,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $21.11, for a total value of $527,750.00. Following the completion of the transaction, the insider now directly owns 175,053 shares in the company, valued at approximately $3,695,368.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig A. Buffie sold 11,819 shares of the business’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 owns 51,791 shares of the company’s stock, valued at $1,098,487.11. The disclosure for this sale can be found here. Insiders sold a total of 92,857 shares of company stock valued at $1,953,548 over the last quarter. 0.65% of the stock is currently owned by insiders.
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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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