Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of KeyCorp (NYSE:KEY) by 179.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 76,163 shares of the financial services provider’s stock after purchasing an additional 48,938 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in KeyCorp were worth $1,126,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. raised its stake in shares of KeyCorp by 690.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 683,725 shares of the financial services provider’s stock valued at $13,600,000 after buying an additional 597,235 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of KeyCorp by 8.5% in the 3rd quarter. Private Advisor Group LLC now owns 47,073 shares of the financial services provider’s stock valued at $936,000 after buying an additional 3,694 shares in the last quarter. American Century Companies Inc. raised its stake in shares of KeyCorp by 27.2% in the 3rd quarter. American Century Companies Inc. now owns 39,096 shares of the financial services provider’s stock valued at $778,000 after buying an additional 8,356 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of KeyCorp in the 3rd quarter valued at $1,717,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of KeyCorp by 4.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 160,500 shares of the financial services provider’s stock valued at $3,192,000 after buying an additional 6,623 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.
In other KeyCorp news, insider Robert A. Deangelis sold 31,166 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $17.37, for a total transaction of $541,353.42. Following the sale, the insider now owns 196,478 shares of the company’s stock, valued at approximately $3,412,822.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 4,162 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $17.33, for a total transaction of $72,127.46. Following the sale, the insider now directly owns 128,464 shares in the company, valued at approximately $2,226,281.12. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.
Shares of NYSE:KEY opened at $17.38 on Friday. KeyCorp has a 12 month low of $13.65 and a 12 month high of $21.91. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market cap of $17.53 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 0.55 and a beta of 1.22.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, January 17th. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. KeyCorp had a net margin of 24.74% and a return on equity of 13.26%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. Analysts expect that KeyCorp will post 1.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Monday, March 4th. KeyCorp’s dividend payout ratio is currently 39.31%.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Scotiabank reaffirmed a “buy” rating and issued a $36.00 target price on shares of KeyCorp in a report on Friday, February 22nd. Desjardins reaffirmed an “average” rating and issued a $34.00 target price on shares of KeyCorp in a report on Tuesday, February 5th. CIBC reaffirmed an “average” rating on shares of KeyCorp in a report on Monday, February 4th. Finally, Wedbush lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $16.63 target price on the stock. in a report on Monday, February 4th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $22.74.
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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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