Ellington Management Group LLC boosted its position in KeyCorp (NYSE:KEY) by 27.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,300 shares of the financial services provider’s stock after purchasing an additional 10,900 shares during the period. Ellington Management Group LLC’s holdings in KeyCorp were worth $1,015,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation lifted its position in KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 5,466 shares during the period. Bank of Nova Scotia Trust Co. acquired a new stake in KeyCorp in the third quarter worth approximately $132,000. AllSquare Wealth Management LLC acquired a new stake in KeyCorp in the third quarter worth approximately $173,000. First National Trust Co. acquired a new stake in KeyCorp in the third quarter worth approximately $199,000. Finally, Davis R M Inc. acquired a new stake in KeyCorp in the fourth quarter worth approximately $217,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.
KEY has been the subject of a number of research analyst reports. Morgan Stanley restated an “overweight” rating and issued a $23.00 target price on shares of KeyCorp in a research report on Thursday, December 14th. ValuEngine upgraded KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research downgraded KeyCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Deutsche Bank upgraded KeyCorp from a “hold” rating to a “buy” rating and upped their target price for the stock from $23.00 to $24.00 in a research report on Thursday, January 25th. Finally, Oppenheimer restated a “hold” rating on shares of KeyCorp in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $22.07.
Shares of KeyCorp (NYSE:KEY) opened at $22.15 on Monday. The stock has a market capitalization of $23,494.22, a price-to-earnings ratio of 19.78, a PEG ratio of 1.40 and a beta of 1.01. KeyCorp has a 1-year low of $16.28 and a 1-year high of $22.22. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.02.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ 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 return on equity of 10.66% and a net margin of 18.06%. During the same quarter in the prior year, the company earned $0.31 earnings per share. sell-side analysts expect that KeyCorp will post 1.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th will be issued a $0.105 dividend. The ex-dividend date is Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.90%. KeyCorp’s payout ratio is currently 37.50%.
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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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