IFP Advisors Inc Has $164,000 Stake in KeyCorp (KEY)
IFP Advisors Inc lessened its position in KeyCorp (NYSE:KEY) by 27.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,111 shares of the financial services provider’s stock after selling 3,020 shares during the period. IFP Advisors Inc’s holdings in KeyCorp were worth $164,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. raised its position in shares of KeyCorp by 78.0% in the third quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock valued at $1,055,000 after buying an additional 24,554 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in KeyCorp by 2.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 3,575,887 shares of the financial services provider’s stock worth $67,299,000 after purchasing an additional 71,018 shares during the last quarter. New England Research & Management Inc. increased its position in KeyCorp by 12.8% during the fourth quarter. New England Research & Management Inc. now owns 50,845 shares of the financial services provider’s stock worth $1,026,000 after purchasing an additional 5,750 shares during the last quarter. Toronto Dominion Bank increased its position in KeyCorp by 11.1% during the third quarter. Toronto Dominion Bank now owns 428,912 shares of the financial services provider’s stock worth $8,071,000 after purchasing an additional 42,971 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in KeyCorp during the third quarter worth approximately $268,000. 82.04% of the stock is owned by institutional investors and hedge funds.
KEY has been the subject of several research analyst reports. CIBC reaffirmed a “buy” rating on shares of KeyCorp in a research report on Friday, December 8th. Zacks Investment Research raised shares of KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Tuesday, December 26th. Stephens raised shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price target for the company in a research report on Thursday, December 14th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.50 price target on shares of KeyCorp in a research report on Thursday, December 14th. Finally, Barclays upped their price target on shares of KeyCorp from $19.00 to $23.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company’s stock. KeyCorp has an average rating of “Buy” and an average price target of $22.07.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. sell-side analysts predict that KeyCorp will post 1.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be paid a dividend of $0.105 per share. The ex-dividend date is Monday, February 26th. This represents a $0.42 annualized dividend and a yield of 2.09%. KeyCorp’s dividend payout ratio is currently 37.50%.
In other KeyCorp news, insider Craig A. Buffie sold 11,819 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $21.21, for a total transaction of $250,680.99. Following the completion of the sale, the insider now directly owns 51,791 shares in the company, valued at $1,098,487.11. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elizabeth R. Gile acquired 1,374 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were acquired at an average price of $18.23 per share, with a total value of $25,048.02. Following the completion of the purchase, the director now owns 24,989 shares of the company’s stock, valued at $455,549.47. The disclosure for this purchase can be found here. 0.65% of the stock is owned by insiders.
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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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