KeyCorp (KEY) Stake Decreased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in KeyCorp (NYSE:KEY) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,252,920 shares of the financial services provider’s stock after selling 28,715 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.30% of KeyCorp worth $61,220,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Ballentine Partners LLC raised its position in KeyCorp by 0.5% in the second quarter. Ballentine Partners LLC now owns 12,113 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 66 shares in the last quarter. Comerica Securities Inc. raised its position in KeyCorp by 0.7% in the second quarter. Comerica Securities Inc. now owns 11,535 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 83 shares in the last quarter. Essex Financial Services Inc. raised its position in KeyCorp by 0.3% in the second quarter. Essex Financial Services Inc. now owns 39,160 shares of the financial services provider’s stock worth $734,000 after purchasing an additional 117 shares in the last quarter. Dividend Assets Capital LLC raised its position in KeyCorp by 0.5% in the second quarter. Dividend Assets Capital LLC now owns 24,475 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 125 shares in the last quarter. Finally, HM Payson & Co. raised its position in KeyCorp by 1.2% in the second quarter. HM Payson & Co. now owns 13,041 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 150 shares in the last quarter. 81.20% of the stock is owned by hedge funds and other institutional investors.

In other KeyCorp news, Director Elizabeth R. Gile acquired 1,374 shares of KeyCorp stock in a transaction on Wednesday, November 22nd. The shares were purchased at an average cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the purchase, the director now owns 24,989 shares in the company, valued at $455,549.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carlton L. Highsmith sold 7,600 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $18.39, for a total transaction of $139,764.00. Following the completion of the transaction, 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. Insiders own 0.65% of the company’s stock.

Several analysts have recently weighed in on KEY shares. Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Sanford C. Bernstein raised shares of KeyCorp from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $21.00 to $22.00 in a report on Thursday, September 14th. Robert W. Baird reaffirmed a “hold” rating and set a $18.00 price objective on shares of KeyCorp in a report on Friday, October 6th. Oppenheimer reaffirmed a “hold” rating on shares of KeyCorp in a report on Friday, October 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a report on Thursday, October 19th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $20.97.

KeyCorp (NYSE:KEY) traded up $0.50 on Monday, hitting $19.63. 16,940,656 shares of the stock traded hands, compared to its average volume of 11,005,045. KeyCorp has a twelve month low of $16.28 and a twelve month high of $19.93. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market capitalization of $21,110.00, a PE ratio of 14.49, a P/E/G ratio of 1.74 and a beta of 1.09.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. KeyCorp’s revenue was up 13.7% compared to the same quarter last year. sell-side analysts anticipate that KeyCorp will post 1.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be paid a $0.105 dividend. The ex-dividend date of this dividend is Monday, November 27th. This is a boost from KeyCorp’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a yield of 2.14%. KeyCorp’s dividend payout ratio (DPR) is presently 36.52%.

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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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