Mackenzie Financial Corp Has $31.28 Million Stake in KeyCorp (KEY)
Mackenzie Financial Corp raised its holdings in shares of KeyCorp (NYSE:KEY) by 90.4% during the 4th quarter, Holdings Channel reports. The fund owned 1,550,840 shares of the financial services provider’s stock after acquiring an additional 736,157 shares during the quarter. Mackenzie Financial Corp’s holdings in KeyCorp were worth $31,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the company. Equity Investment Corp boosted its stake in shares of KeyCorp by 44.9% during the 4th quarter. Equity Investment Corp now owns 17,000 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 5,270 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of KeyCorp by 2.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,697,272 shares of the financial services provider’s stock worth $155,254,000 after acquiring an additional 210,993 shares during the last quarter. Eaton Vance Management boosted its stake in shares of KeyCorp by 77.6% during the 4th quarter. Eaton Vance Management now owns 11,100,824 shares of the financial services provider’s stock worth $223,904,000 after acquiring an additional 4,850,008 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of KeyCorp by 18.0% during the 4th quarter. Brown Advisory Inc. now owns 25,872 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 3,952 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in shares of KeyCorp by 7.8% during the 4th quarter. Pinnacle Associates Ltd. now owns 124,400 shares of the financial services provider’s stock worth $2,509,000 after acquiring an additional 8,950 shares during the last quarter. Institutional investors and hedge funds own 81.08% of the company’s stock.
Shares of KeyCorp (KEY) opened at $21.34 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.02. The stock has a market cap of $22,274.43, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. KeyCorp has a fifty-two week low of $16.28 and a fifty-two week high of $22.22.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be issued a $0.105 dividend. The ex-dividend date of this dividend is Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a yield of 1.97%. KeyCorp’s dividend payout ratio is currently 37.50%.
Several brokerages have recently weighed in on KEY. CIBC reiterated a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. Stephens upgraded 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 note on Thursday, December 14th. Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, December 26th. Vining Sparks restated a “buy” rating and set a $25.00 target price on shares of KeyCorp in a research note on Thursday, January 18th. Finally, Oppenheimer restated a “hold” rating on shares of KeyCorp in a research note on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.07.
In other KeyCorp news, insider Robert A. Deangelis sold 25,000 shares of KeyCorp stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $21.11, for a total value of $527,750.00. Following the sale, the insider now directly owns 175,053 shares in the company, valued at approximately $3,695,368.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher M. Gorman sold 56,038 shares of KeyCorp stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $20.97, for a total transaction of $1,175,116.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,857 shares of company stock worth $1,953,548. 0.65% of the stock is currently owned by insiders.
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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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