Perpetual Ltd Buys New Stake in KeyCorp (NYSE:KEY)

Perpetual Ltd acquired a new position in shares of KeyCorp (NYSE:KEY) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 237,952 shares of the financial services provider’s stock, valued at approximately $4,459,000.

Other large investors have also modified their holdings of the company. Cypress Capital Management LLC WY increased its position in shares of KeyCorp by 177.9% during the 2nd quarter. Cypress Capital Management LLC WY now owns 7,030 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 4,500 shares during the last quarter. Sun Life Financial INC increased its position in shares of KeyCorp by 80,370.0% during the 2nd quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 8,037 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of KeyCorp during the 2nd quarter worth about $174,000. First Financial Bank Trust Division acquired a new stake in shares of KeyCorp during the 2nd quarter worth about $192,000. Finally, Equity Investment Corp Acquisition Inc grew its position in KeyCorp by 3.9% in the 2nd quarter. Equity Investment Corp Acquisition Inc now owns 10,465 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 390 shares in the last quarter. 80.64% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Ruth Ann M. Gillis acquired 3,000 shares of KeyCorp stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $18.00 per share, for a total transaction of $54,000.00. Following the completion of the purchase, the director now owns 10,551 shares in the company, valued at $189,918. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew J. Paine III sold 46,854 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total value of $869,610.24. Following the completion of the sale, the insider now owns 110,052 shares of the company’s stock, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 277,636 shares of company stock valued at $5,149,949. 0.65% of the stock is owned by company insiders.

Several equities analysts have weighed in on KEY shares. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $22.00 target price on shares of KeyCorp in a research report on Wednesday, September 27th. Keefe, Bruyette & Woods raised KeyCorp from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Monday, July 10th. BMO Capital Markets reaffirmed a “buy” rating and issued a $22.00 target price on shares of KeyCorp in a research report on Thursday, July 27th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of KeyCorp in a research note on Friday, October 20th. Finally, Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company’s stock. KeyCorp currently has a consensus rating of “Hold” and an average price target of $20.31.

KeyCorp (KEY) traded down 0.86% on Friday, hitting $18.36. The stock had a trading volume of 4,966,224 shares. The company has a market cap of $19.97 billion, a price-to-earnings ratio of 18.23 and a beta of 1.13. KeyCorp has a 12-month low of $13.83 and a 12-month high of $19.53. The company’s 50 day moving average price is $18.19 and its 200-day moving average price is $18.17.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. Equities research analysts anticipate that KeyCorp will post $1.31 EPS for the current year.

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KeyCorp Company Profile

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.

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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