Mirae Asset Global Investments Co. Ltd. boosted its position in KeyCorp (NYSE:KEY) by 16.8% in the fourth quarter, HoldingsChannel reports. The firm owned 30,877 shares of the financial services provider’s stock after acquiring an additional 4,443 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in KeyCorp were worth $456,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in KeyCorp by 1.4% in the third quarter. Vanguard Group Inc. now owns 114,959,582 shares of the financial services provider’s stock worth $2,286,547,000 after purchasing an additional 1,604,187 shares in the last quarter. Vanguard Group Inc raised its holdings in KeyCorp by 1.4% in the third quarter. Vanguard Group Inc now owns 114,959,582 shares of the financial services provider’s stock worth $2,286,547,000 after purchasing an additional 1,604,187 shares in the last quarter. BlackRock Inc. raised its holdings in KeyCorp by 0.8% in the fourth quarter. BlackRock Inc. now owns 69,532,636 shares of the financial services provider’s stock worth $1,027,693,000 after purchasing an additional 527,640 shares in the last quarter. Boston Partners raised its holdings in KeyCorp by 35.1% in the fourth 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. Finally, JPMorgan Chase & Co. raised its holdings in KeyCorp by 33.5% in the third 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. Institutional investors and hedge funds own 79.08% of the company’s stock.

Several research firms have recently issued reports on KEY. CIBC restated an “average” rating on shares of KeyCorp in a report on Monday, February 4th. Keefe, Bruyette & Woods downgraded shares of KeyCorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 12th. Nomura restated a “reduce” rating and set a $16.00 price objective on shares of KeyCorp in a report on Monday, December 10th. Scotiabank restated a “buy” rating and set a $36.00 price objective on shares of KeyCorp in a report on Friday, February 22nd. Finally, Zacks Investment Research downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $22.74.

In related news, insider Robert A. Deangelis sold 31,166 shares of the company’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 value of $541,353.42. Following the sale, the insider now owns 196,478 shares in the company, valued at $3,412,822.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela G. Mago sold 4,162 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $17.33, for a total value of $72,127.46. Following the completion of the sale, the insider now owns 128,464 shares in the company, valued at approximately $2,226,281.12. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.

Shares of NYSE KEY opened at $17.38 on Friday. The company has a market capitalization of $17.53 billion, a P/E ratio of 10.05, a PEG ratio of 0.55 and a beta of 1.22. KeyCorp has a 52 week low of $13.65 and a 52 week high of $21.91. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 0.89.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, January 17th. The financial services provider reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. KeyCorp had a return on equity of 13.26% and a net margin of 24.74%. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Sell-side analysts predict that KeyCorp will post 1.85 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a $0.17 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.91%. KeyCorp’s dividend payout ratio is currently 39.31%.

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About KeyCorp

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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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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