Fagan Associates Inc. Has $881,000 Stake in KeyCorp (KEY)
Fagan Associates Inc. decreased its position in KeyCorp (NYSE:KEY) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,590 shares of the financial services provider’s stock after selling 1,114 shares during the period. Fagan Associates Inc.’s holdings in KeyCorp were worth $881,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of KEY. JPMorgan Chase & Co. grew its stake in shares of KeyCorp by 33.5% in 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 buying an additional 9,086,291 shares during the period. Capital World Investors acquired a new position in shares of KeyCorp in the 3rd quarter worth approximately $157,529,000. FMR LLC lifted its holdings in shares of KeyCorp by 33.5% in the 3rd quarter. FMR LLC now owns 16,698,961 shares of the financial services provider’s stock worth $332,143,000 after acquiring an additional 4,186,177 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of KeyCorp by 14.9% in 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 acquiring an additional 2,198,538 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of KeyCorp by 52.4% in the 4th quarter. Bank of Montreal Can now owns 5,491,759 shares of the financial services provider’s stock worth $81,168,000 after acquiring an additional 1,888,517 shares during the last quarter. 79.70% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently commented on KEY shares. Nomura decreased their price objective on shares of KeyCorp from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, October 19th. BMO Capital Markets decreased their price objective on shares of KeyCorp from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. Piper Jaffray Companies restated a “buy” rating and issued a $21.00 price objective on shares of KeyCorp in a report on Monday, October 22nd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $23.00 price objective on shares of KeyCorp in a report on Monday, October 22nd. Finally, UBS Group set a $23.00 price objective on shares of KeyCorp and gave the stock a “buy” rating in a report on Monday, October 22nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $22.01.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, January 17th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. KeyCorp had a net margin of 24.74% and a return on equity of 13.26%. During the same period in the prior year, the business earned $0.33 EPS. Equities analysts expect that KeyCorp will post 1.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th will be issued a $0.17 dividend. The ex-dividend date is Monday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.01%. KeyCorp’s payout ratio is 39.31%.
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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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