State Treasurer State of Michigan reduced its stake in KeyCorp (NYSE:KEY) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 330,027 shares of the financial services provider’s stock after selling 30,200 shares during the quarter. State Treasurer State of Michigan’s holdings in KeyCorp were worth $6,211,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in KeyCorp by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after purchasing an additional 4,230,390 shares during the period. BlackRock Inc. raised its holdings in KeyCorp by 2.7% in the 2nd quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock worth $1,624,654,000 after purchasing an additional 2,280,450 shares during the period. Northern Trust Corp raised its holdings in KeyCorp by 1.9% in the 2nd quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock worth $232,925,000 after purchasing an additional 231,558 shares during the period. Bessemer Group Inc. raised its holdings in KeyCorp by 0.7% in the 2nd quarter. Bessemer Group Inc. now owns 12,000,915 shares of the financial services provider’s stock worth $224,897,000 after purchasing an additional 87,019 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in KeyCorp by 6,189.4% in the 2nd quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock worth $170,679,000 after purchasing an additional 8,962,913 shares during the period. 81.25% of the stock is currently owned by institutional investors.
In related news, Director Ruth Ann M. Gillis purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $17.91 per share, for a total transaction of $35,820.00. Following the completion of the transaction, the director now owns 10,551 shares in the company, valued at approximately $188,968.41. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlton L. Highsmith sold 7,600 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $18.39, for a total transaction of $139,764.00. Following the completion of the sale, the director now directly owns 68,725 shares of the company’s stock, valued at approximately $1,263,852.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,212 shares of company stock valued at $1,060,508. 0.65% of the stock is currently owned by company insiders.
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KEY has been the topic of a number of recent research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $22.00 target price on shares of KeyCorp in a report on Wednesday, September 27th. BMO Capital Markets reaffirmed a “buy” rating and issued a $22.00 target price on shares of KeyCorp in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of KeyCorp in a report on Friday, October 20th. Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $21.00 target price on shares of KeyCorp in a report on Friday, July 28th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $20.82.
KeyCorp (KEY) traded down $0.21 on Friday, reaching $17.64. The company had a trading volume of 11,448,700 shares, compared to its average volume of 10,943,482. The stock has a market capitalization of $19,195.89, a price-to-earnings ratio of 13.52, a P/E/G ratio of 1.62 and a beta of 1.10. KeyCorp has a 12 month low of $15.62 and a 12 month high of $19.53. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.30 earnings per share. analysts predict that KeyCorp will post 1.38 earnings per share for the current year.
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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