Pzena Investment Management LLC Has $139.31 Million Position in KeyCorp (KEY)
Pzena Investment Management LLC lifted its stake in KeyCorp (NYSE:KEY) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,906,772 shares of the financial services provider’s stock after purchasing an additional 60,217 shares during the quarter. Pzena Investment Management LLC owned about 0.65% of KeyCorp worth $139,310,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Boston Partners purchased a new position in shares of KeyCorp during the 3rd quarter valued at approximately $356,111,000. APG Asset Management N.V. grew its stake in KeyCorp by 45.9% in the 4th quarter. APG Asset Management N.V. now owns 7,944,416 shares of the financial services provider’s stock valued at $133,443,000 after acquiring an additional 2,497,702 shares during the period. Bessemer Group Inc. grew its stake in KeyCorp by 17.3% in the 4th quarter. Bessemer Group Inc. now owns 14,150,163 shares of the financial services provider’s stock valued at $285,409,000 after acquiring an additional 2,084,290 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in KeyCorp by 36.1% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 7,486,279 shares of the financial services provider’s stock valued at $140,892,000 after acquiring an additional 1,985,847 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in KeyCorp by 8.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock valued at $448,990,000 after acquiring an additional 1,765,263 shares during the period. 81.76% of the stock is owned by hedge funds and other institutional investors.
KeyCorp (NYSE:KEY) opened at $20.91 on Friday. The stock has a market capitalization of $22,656.28, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.89 and a quick ratio of 0.88. KeyCorp has a 52-week low of $16.28 and a 52-week high of $22.40.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th were given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, February 26th. KeyCorp’s dividend payout ratio is currently 37.50%.
In other KeyCorp news, insider Christopher M. Gorman sold 56,038 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $20.97, for a total value of $1,175,116.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig A. Buffie sold 11,819 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $21.21, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 92,857 shares of company stock valued at $1,953,548. Company insiders own 0.65% of the company’s stock.
Several brokerages have issued reports on KEY. CIBC reaffirmed a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. Stephens raised shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price target on the stock in a research report on Thursday, December 14th. Zacks Investment Research raised shares of KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, December 26th. Vining Sparks restated a “buy” rating and issued a $25.00 price objective on shares of KeyCorp in a report on Thursday, January 18th. Finally, Oppenheimer restated a “hold” rating on shares of KeyCorp in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $22.07.
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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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