Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of KeyCorp (NYSE:KEY) by 101.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,835 shares of the financial services provider’s stock after purchasing an additional 47,798 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in KeyCorp were worth $1,854,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its position in shares of KeyCorp by 61.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 13,628,892 shares of the financial services provider’s stock valued at $266,444,000 after purchasing an additional 5,205,496 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its position in shares of KeyCorp by 38.9% during the 1st quarter. Cornercap Investment Counsel Inc. now owns 92,805 shares of the financial services provider’s stock valued at $1,814,000 after purchasing an additional 26,010 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of KeyCorp during the 1st quarter valued at about $2,796,000. Achmea Investment Management B.V. bought a new stake in shares of KeyCorp during the 1st quarter valued at about $523,000. Finally, Nuveen Asset Management LLC boosted its position in shares of KeyCorp by 15.0% during the 1st quarter. Nuveen Asset Management LLC now owns 1,820,183 shares of the financial services provider’s stock valued at $35,585,000 after purchasing an additional 237,990 shares in the last quarter. Institutional investors own 79.88% of the company’s stock.
KEY has been the topic of several research analyst reports. Susquehanna Bancshares upgraded KeyCorp from a “neutral” rating to a “positive” rating and upped their target price for the company from $24.00 to $25.00 in a research report on Tuesday, April 24th. Zacks Investment Research lowered KeyCorp from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. BMO Capital Markets cut their target price on KeyCorp from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, April 20th. UBS Group raised KeyCorp from a “neutral” rating to a “positive” rating in a research note on Tuesday, April 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $23.00 price target on shares of KeyCorp in a research note on Thursday, April 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. KeyCorp currently has an average rating of “Buy” and an average target price of $22.45.
In other news, insider Edward J. Burke sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $19.83, for a total value of $198,300.00. Following the completion of the sale, the insider now directly owns 126,526 shares of the company’s stock, valued at $2,509,010.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.
Shares of KeyCorp opened at $20.40 on Monday, MarketBeat.com reports. The company has a market capitalization of $21.94 billion, a PE ratio of 15.00, a P/E/G ratio of 1.28 and a beta of 1.02. KeyCorp has a 52 week low of $16.28 and a 52 week high of $22.40. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.89 and a quick ratio of 0.87.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 19th. The financial services provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. KeyCorp had a return on equity of 11.03% and a net margin of 19.32%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. equities research analysts predict that KeyCorp will post 1.7 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Tuesday, May 29th were paid a $0.12 dividend. The ex-dividend date was Friday, May 25th. This is an increase from KeyCorp’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 2.35%. KeyCorp’s dividend payout ratio is 35.29%.
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.
Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.