Providence Capital Advisors LLC lifted its position in KeyCorp (NYSE:KEY) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,149 shares of the financial services provider’s stock after acquiring an additional 3,397 shares during the quarter. Providence Capital Advisors LLC’s holdings in KeyCorp were worth $1,674,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Kiley Juergens Wealth Management LLC purchased a new stake in shares of KeyCorp during the second quarter worth about $113,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of KeyCorp by 8,462.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,165 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 6,093 shares during the last quarter. Reilly Financial Advisors LLC grew its stake in shares of KeyCorp by 408.3% during the third quarter. Reilly Financial Advisors LLC now owns 6,354 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 5,104 shares during the last quarter. Zions Bancorporation purchased a new stake in shares of KeyCorp during the third quarter worth about $138,000. Finally, Edge Wealth Management LLC purchased a new stake in shares of KeyCorp during the second quarter worth about $161,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.
In other KeyCorp news, Director Carlton L. Highsmith sold 6,963 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $18.37, for a total value of $127,910.31. Following the completion of the transaction, the director now directly owns 68,088 shares of the company’s stock, valued at $1,250,776.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Beth E. Mooney purchased 10,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was bought at an average cost of $18.26 per share, with a total value of $182,600.00. The disclosure for this purchase can be found here. Insiders own 0.67% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Nomura restated a “neutral” rating and set a $18.00 price target (down previously from $20.00) on shares of KeyCorp in a research note on Tuesday. Scotiabank restated a “hold” rating on shares of KeyCorp in a research note on Friday, November 9th. Raymond James restated a “buy” rating on shares of KeyCorp in a research note on Thursday, November 8th. UBS Group set a $23.00 price target on KeyCorp and gave the stock a “buy” rating in a research note on Monday, October 22nd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $23.00 price target on shares of KeyCorp in a research note on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seventeen have issued a buy rating to the company’s stock. KeyCorp currently has a consensus rating of “Buy” and a consensus target price of $23.17.
Shares of NYSE KEY opened at $18.00 on Thursday. The company has a market capitalization of $19.11 billion, a P/E ratio of 13.23, a PEG ratio of 0.68 and a beta of 1.00. KeyCorp has a 52 week low of $16.48 and a 52 week high of $22.40. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.88 and a current ratio of 0.89.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 18th. The financial services provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. KeyCorp had a return on equity of 12.56% and a net margin of 21.47%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. KeyCorp’s revenue for the quarter was up 3.1% on a year-over-year basis. Sell-side analysts predict that KeyCorp will post 1.73 earnings per share for the current fiscal year.
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KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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