TIAA CREF Investment Management LLC trimmed its position in shares of KeyCorp (NYSE:KEY) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,628,115 shares of the financial services provider’s stock after selling 430,843 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.34% of KeyCorp worth $73,179,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in KEY. Raymond James Financial Services Advisors Inc. boosted its holdings in KeyCorp by 15.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 121,499 shares of the financial services provider’s stock valued at $2,287,000 after acquiring an additional 15,862 shares during the period. Sei Investments Co. boosted its holdings in KeyCorp by 42.3% during the third quarter. Sei Investments Co. now owns 522,886 shares of the financial services provider’s stock valued at $9,841,000 after acquiring an additional 155,327 shares during the period. New York State Common Retirement Fund boosted its holdings in KeyCorp by 2.0% during the third quarter. New York State Common Retirement Fund now owns 2,521,792 shares of the financial services provider’s stock valued at $47,460,000 after acquiring an additional 49,800 shares during the period. Advisor Group Inc. boosted its holdings in KeyCorp by 29.1% during the third quarter. Advisor Group Inc. now owns 50,950 shares of the financial services provider’s stock valued at $960,000 after acquiring an additional 11,491 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in KeyCorp by 27.8% during the third quarter. Ameriprise Financial Inc. now owns 858,281 shares of the financial services provider’s stock valued at $16,158,000 after acquiring an additional 186,509 shares during the period. Institutional investors own 81.68% of the company’s stock.
Shares of KeyCorp (NYSE KEY) opened at $20.92 on Tuesday. The firm has a market cap of $22,232.00, a P/E ratio of 18.68, a PEG ratio of 1.32 and a beta of 1.01. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.89. KeyCorp has a fifty-two week low of $16.28 and a fifty-two week high of $22.40.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same quarter last year, the business posted $0.31 earnings per share. equities research analysts forecast that KeyCorp will post 1.67 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th were issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Monday, February 26th. KeyCorp’s payout ratio is 37.50%.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Deutsche Bank upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and increased their target price for the company from $23.00 to $24.00 in a research note on Thursday, January 25th. Oppenheimer reiterated a “hold” rating on shares of KeyCorp in a research note on Monday, January 22nd. DA Davidson increased their target price on shares of KeyCorp to $26.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $21.50 target price on shares of KeyCorp in a research note on Friday, January 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.07.
In other news, insider Christopher M. Gorman sold 56,038 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $20.97, for a total transaction of $1,175,116.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig A. Buffie sold 11,819 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total transaction of $250,680.99. Following the sale, the insider now directly owns 51,791 shares of the company’s stock, valued at approximately $1,098,487.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,857 shares of company stock valued at $1,953,548. Company insiders own 0.65% of the company’s stock.
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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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