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.
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