KeyCorp (KEY) Shares Bought by Prudential PLC
Prudential PLC boosted its holdings in KeyCorp (NYSE:KEY) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 508,334 shares of the financial services provider’s stock after acquiring an additional 7,169 shares during the quarter. Prudential PLC’s holdings in KeyCorp were worth $7,513,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of KeyCorp by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 114,959,582 shares of the financial services provider’s stock valued at $2,286,547,000 after purchasing an additional 1,604,187 shares during the last quarter. Vanguard Group Inc increased its position in shares of KeyCorp by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 114,959,582 shares of the financial services provider’s stock valued at $2,286,547,000 after purchasing an additional 1,604,187 shares during the last quarter. BlackRock Inc. increased its position in shares of KeyCorp by 0.8% during the 4th quarter. BlackRock Inc. now owns 69,532,636 shares of the financial services provider’s stock valued at $1,027,693,000 after purchasing an additional 527,640 shares during the last quarter. Boston Partners increased its position in shares of KeyCorp by 35.1% during the 4th quarter. Boston Partners now owns 41,244,050 shares of the financial services provider’s stock valued at $609,586,000 after purchasing an additional 10,713,851 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of KeyCorp by 33.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 36,176,502 shares of the financial services provider’s stock valued at $719,551,000 after purchasing an additional 9,086,291 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.
In related news, insider Robert A. Deangelis sold 31,166 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $17.37, for a total transaction of $541,353.42. Following the transaction, the insider now directly owns 196,478 shares in the company, valued at approximately $3,412,822.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.67% of the stock is owned by company insiders.
KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, January 17th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. KeyCorp had a return on equity of 13.26% and a net margin of 24.74%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned $0.33 EPS. Research analysts forecast that KeyCorp will post 1.85 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Tuesday, March 5th will be given a dividend of $0.17 per share. The ex-dividend date is Monday, March 4th. This represents a $0.68 annualized dividend and a yield of 3.90%. KeyCorp’s payout ratio is 39.31%.
Several equities analysts have recently commented on the company. CIBC reiterated an “average” rating on shares of KeyCorp in a research report on Monday, February 4th. Keefe, Bruyette & Woods lowered KeyCorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 12th. Nomura reiterated a “reduce” rating and set a $16.00 price objective on shares of KeyCorp in a research report on Monday, December 10th. Scotiabank reiterated a “buy” rating and set a $36.00 price objective on shares of KeyCorp in a research report on Friday, February 22nd. Finally, Zacks Investment Research lowered KeyCorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. KeyCorp has an average 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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