Sei Investments Co. lifted its holdings in shares of KeyCorp (NYSE:KEY) by 42.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 522,886 shares of the financial services provider’s stock after purchasing an additional 155,327 shares during the period. Sei Investments Co.’s holdings in KeyCorp were worth $9,841,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its stake in shares of KeyCorp by 78.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock worth $1,055,000 after purchasing an additional 24,554 shares during the period. Flippin Bruce & Porter Inc. raised its stake in shares of KeyCorp by 3.9% during the 2nd quarter. Flippin Bruce & Porter Inc. now owns 451,881 shares of the financial services provider’s stock worth $8,468,000 after purchasing an additional 17,103 shares during the period. Greenwood Capital Associates LLC raised its stake in shares of KeyCorp by 1.3% during the 2nd quarter. Greenwood Capital Associates LLC now owns 41,874 shares of the financial services provider’s stock worth $785,000 after purchasing an additional 534 shares during the period. Private Capital Management Inc. increased its holdings in KeyCorp by 29.7% in the 3rd quarter. Private Capital Management Inc. now owns 27,500 shares of the financial services provider’s stock worth $518,000 after acquiring an additional 6,300 shares during the last quarter. Finally, BlackRock Inc. increased 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 acquiring an additional 2,280,450 shares during the last quarter. Institutional investors own 82.42% of the company’s stock.
A number of research analysts have weighed in on the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $22.00 target price on shares of KeyCorp in a report on Wednesday, September 27th. BMO Capital Markets reaffirmed a “buy” rating and set 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 lowered 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 set a $21.00 target price on shares of KeyCorp in a report on Friday, July 28th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. KeyCorp has an average rating of “Hold” and an average target price of $20.82.
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KeyCorp (KEY) opened at $18.46 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. KeyCorp has a 12 month low of $16.28 and a 12 month high of $19.53. The stock has a market capitalization of $19,690.00, a P/E ratio of 13.87, a PEG ratio of 1.67 and a beta of 1.10.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $1.55 billion for 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 for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. sell-side analysts anticipate that KeyCorp will post 1.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be paid a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 2.28%. This is a boost from KeyCorp’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, November 27th. KeyCorp’s dividend payout ratio is presently 33.04%.
In related news, insider Andrew J. Paine III sold 46,854 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the sale, the insider now directly owns 110,052 shares of the company’s stock, valued at $2,042,565.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carlton L. Highsmith sold 7,600 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $18.39, for a total value of $139,764.00. Following the completion of the sale, the director now directly owns 68,725 shares in the company, valued at $1,263,852.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,212 shares of company stock worth $1,060,508. 0.65% of the stock is owned by insiders.
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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