Martingale Asset Management L P Sells 149,280 Shares of KeyCorp (KEY)
Martingale Asset Management L P decreased its stake in shares of KeyCorp (NYSE:KEY) by 90.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,112 shares of the financial services provider’s stock after selling 149,280 shares during the period. Martingale Asset Management L P’s holdings in KeyCorp were worth $224,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of KEY. Boston Partners lifted its holdings in KeyCorp by 35.1% during the 4th quarter. Boston Partners now owns 41,244,050 shares of the financial services provider’s stock worth $609,586,000 after purchasing an additional 10,713,851 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in KeyCorp by 33.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 36,176,502 shares of the financial services provider’s stock worth $719,551,000 after purchasing an additional 9,086,291 shares in the last quarter. Capital World Investors purchased a new stake in KeyCorp during the 3rd quarter worth about $157,529,000. FMR LLC lifted its holdings in KeyCorp by 33.5% during the 3rd quarter. FMR LLC now owns 16,698,961 shares of the financial services provider’s stock worth $332,143,000 after purchasing an additional 4,186,177 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in KeyCorp by 14.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,968,275 shares of the financial services provider’s stock worth $337,498,000 after purchasing an additional 2,198,538 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of KeyCorp stock opened at $17.38 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market cap of $17.53 billion, a PE ratio of 10.05, a PEG ratio of 0.55 and a beta of 1.22. KeyCorp has a 12 month low of $13.65 and a 12 month high of $21.91.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.91%. KeyCorp’s dividend payout ratio (DPR) is presently 39.31%.
Several analysts have weighed in on KEY shares. Sandler O’Neill raised KeyCorp from a “hold” rating to a “buy” rating and raised their price target for the company from $16.50 to $19.00 in a report on Friday, January 11th. Raymond James reaffirmed a “hold” rating on shares of KeyCorp in a report on Wednesday, December 19th. Argus lowered their price target on KeyCorp from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, January 22nd. Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, February 18th. Finally, BMO Capital Markets cut KeyCorp from an “outperform” rating to a “market perform” rating and set a $17.00 price target on the stock. in a report on Friday, January 18th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $22.74.
In other news, insider Robert A. Deangelis sold 31,166 shares of the stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela G. Mago sold 4,162 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $17.33, for a total value of $72,127.46. Following the transaction, the insider now owns 128,464 shares in the company, valued at $2,226,281.12. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by corporate insiders.
KeyCorp Company Profile
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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