KeyCorp (KEY) Stake Lessened by Wasatch Advisors Inc.

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 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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