Bailard Inc. Decreases Position in KeyCorp (KEY)
Bailard Inc. lowered its stake in KeyCorp (NYSE:KEY) by 16.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,114 shares of the financial services provider’s stock after selling 1,987 shares during the period. Bailard Inc.’s holdings in KeyCorp were worth $149,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Associates Ltd. boosted its holdings in KeyCorp by 12.4% in the 4th quarter. Pinnacle Associates Ltd. now owns 132,537 shares of the financial services provider’s stock valued at $1,959,000 after purchasing an additional 14,602 shares during the period. Hartford Financial Management Inc. boosted its holdings in KeyCorp by 5.5% in the 4th quarter. Hartford Financial Management Inc. now owns 248,446 shares of the financial services provider’s stock valued at $3,672,000 after purchasing an additional 12,967 shares during the period. BB&T Securities LLC boosted its holdings in KeyCorp by 24.4% in the 4th quarter. BB&T Securities LLC now owns 273,868 shares of the financial services provider’s stock valued at $4,047,000 after purchasing an additional 53,755 shares during the period. Hartford Investment Management Co. boosted its holdings in KeyCorp by 5.0% in the 4th quarter. Hartford Investment Management Co. now owns 151,232 shares of the financial services provider’s stock valued at $2,235,000 after purchasing an additional 7,260 shares during the period. Finally, IndexIQ Advisors LLC boosted its holdings in KeyCorp by 57.1% in the 4th quarter. IndexIQ Advisors LLC now owns 358,332 shares of the financial services provider’s stock valued at $5,296,000 after purchasing an additional 130,183 shares during the period. Institutional investors and hedge funds own 79.70% of the company’s stock.
Shares of KeyCorp stock opened at $17.51 on Friday. KeyCorp has a 1-year low of $13.65 and a 1-year high of $22.40. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.97. The company has a market cap of $17.77 billion, a PE ratio of 10.12, a PEG ratio of 0.56 and a beta of 1.19.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Monday, March 4th. KeyCorp’s dividend payout ratio (DPR) is presently 39.31%.
A number of analysts have issued reports on KEY shares. Piper Jaffray Companies reissued a “buy” rating and issued a $21.00 price objective on shares of KeyCorp in a report on Monday, October 22nd. Nomura reissued a “reduce” rating and issued a $16.00 price objective on shares of KeyCorp in a report on Monday, December 10th. CIBC reissued an “average” rating on shares of KeyCorp in a report on Monday, February 4th. Sandler O’Neill raised shares of KeyCorp from a “hold” rating to a “buy” rating and boosted their price objective for the company from $16.50 to $19.00 in a report on Friday, January 11th. Finally, BMO Capital Markets downgraded shares of KeyCorp from an “outperform” rating to a “market perform” rating and set a $17.00 price objective for the company. in a report on Friday, January 18th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $22.01.
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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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