Manning & Napier Advisors LLC boosted its position in KeyCorp (NYSE:KEY) by 98.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 136,508 shares of the financial services provider’s stock after buying an additional 67,710 shares during the period. Manning & Napier Advisors LLC’s holdings in KeyCorp were worth $1,660,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of KEY. MSI Financial Services Inc increased its stake in KeyCorp by 10.6% in the third quarter. MSI Financial Services Inc now owns 8,993 shares of the financial services provider’s stock worth $109,000 after buying an additional 860 shares in the last quarter. Cutler Capital Management LLC purchased a new stake in KeyCorp during the third quarter worth approximately $121,000. Wealthfront Inc. purchased a new stake in KeyCorp during the second quarter worth approximately $123,000. Sigma Investment Management Co increased its stake in KeyCorp by 11.0% in the second quarter. Sigma Investment Management Co now owns 11,454 shares of the financial services provider’s stock worth $127,000 after buying an additional 1,135 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. increased its stake in KeyCorp by 84.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 12,341 shares of the financial services provider’s stock worth $136,000 after buying an additional 5,639 shares in the last quarter. 78.60% of the stock is currently owned by institutional investors.
KeyCorp (NYSE:KEY) traded down 1.60% on Thursday, reaching $17.84. The company’s stock had a trading volume of 18,761,796 shares. The firm’s 50 day moving average is $18.22 and its 200-day moving average is $14.23. KeyCorp has a 12 month low of $9.88 and a 12 month high of $18.77. The firm has a market cap of $19.28 billion, a P/E ratio of 20.55 and a beta of 1.11.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, January 19th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. KeyCorp had a net margin of 15.72% and a return on equity of 8.44%. During the same period last year, the company posted $0.27 EPS. On average, equities research analysts anticipate that KeyCorp will post $1.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be issued a $0.085 dividend. The ex-dividend date is Friday, February 24th. This represents a $0.34 annualized dividend and a yield of 1.91%. KeyCorp’s dividend payout ratio (DPR) is currently 39.08%.
A number of brokerages recently issued reports on KEY. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, January 11th. RBC Capital Markets reiterated a “buy” rating and set a $21.00 price target on shares of KeyCorp in a report on Wednesday, January 4th. Barclays PLC lifted their price target on KeyCorp from $14.00 to $19.00 and gave the company an “underweight” rating in a report on Tuesday, January 3rd. Stephens downgraded KeyCorp from an “overweight” rating to an “equal weight” rating in a report on Monday, December 19th. Finally, Standpoint Research downgraded KeyCorp from a “buy” rating to a “hold” rating in a report on Wednesday, December 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $15.88.
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
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