Wasatch Advisors Inc. lowered its holdings in KeyCorp (NYSE:KEY) by 42.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,728 shares of the financial services provider’s stock after selling 75,737 shares during the period. Wasatch Advisors Inc.’s holdings in KeyCorp were worth $1,888,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of KEY. BlackRock Inc. lifted its holdings in KeyCorp by 3,258.1% in the first quarter. BlackRock Inc. now owns 84,413,892 shares of the financial services provider’s stock worth $1,500,878,000 after acquiring an additional 81,900,174 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of KeyCorp by 6,189.4% during the second quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock valued at $170,679,000 after buying an additional 8,962,913 shares during the last quarter. Janus Capital Management LLC raised its holdings in shares of KeyCorp by 2,048.7% during the first quarter. Janus Capital Management LLC now owns 6,317,037 shares of the financial services provider’s stock valued at $112,317,000 after buying an additional 6,023,049 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of KeyCorp by 3.9% during the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock valued at $2,087,987,000 after buying an additional 4,230,390 shares during the last quarter. Finally, Samlyn Capital LLC bought a new stake in shares of KeyCorp during the second quarter valued at approximately $57,111,000. 80.64% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of KeyCorp (KEY) traded down 0.81% during mid-day trading on Friday, reaching $18.37. 10,633,113 shares of the company’s stock traded hands. KeyCorp has a 12 month low of $13.83 and a 12 month high of $19.53. The firm has a 50 day moving average price of $18.19 and a 200-day moving average price of $18.17. The stock has a market cap of $19.98 billion, a PE ratio of 18.24 and a beta of 1.13.
KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the firm posted $0.30 EPS. The firm’s revenue was up 13.7% on a year-over-year basis. On average, analysts predict that KeyCorp will post $1.31 earnings per share for the current fiscal year.
In other news, Director Ruth Ann M. Gillis purchased 2,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were purchased at an average price of $17.91 per share, for a total transaction of $35,820.00. Following the transaction, the director now owns 10,551 shares of the company’s stock, valued at $188,968.41. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Andrew J. Paine III sold 46,854 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total transaction of $869,610.24. Following the transaction, the insider now owns 110,052 shares in the company, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 277,636 shares of company stock worth $5,149,949. 0.65% of the stock is owned by corporate insiders.
A number of research firms have recently weighed in on KEY. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of KeyCorp in a report on Saturday, July 22nd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $20.50 price target on shares of KeyCorp in a report on Friday, July 21st. Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, July 11th. Instinet reissued a “buy” rating and set a $23.00 target price on shares of KeyCorp in a report on Wednesday, July 12th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $21.00 target price on shares of KeyCorp in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. KeyCorp currently has a consensus rating of “Hold” and an average target price of $20.31.
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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