317,839 Shares in KeyCorp (KEY) Acquired by Novare Capital Management LLC

Novare Capital Management LLC bought a new stake in KeyCorp (NYSE:KEY) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 317,839 shares of the financial services provider’s stock, valued at approximately $5,982,000.

Several other hedge funds have also recently made changes to their positions in KEY. Cypress Capital Management LLC WY boosted its stake in shares of KeyCorp by 177.9% in the second quarter. Cypress Capital Management LLC WY now owns 7,030 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 4,500 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of KeyCorp during the third quarter worth $145,000. Sun Life Financial INC raised its holdings in shares of KeyCorp by 80,370.0% during the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 8,037 shares during the period. AllSquare Wealth Management LLC acquired a new stake in shares of KeyCorp during the third quarter worth $173,000. Finally, Quantbot Technologies LP acquired a new stake in shares of KeyCorp during the second quarter worth $174,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

A number of analysts have weighed in on KEY shares. Sanford C. Bernstein reissued 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 issued a $22.00 price objective 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 shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $21.00 target price on shares of KeyCorp in a research note 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 issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $20.82.

In other KeyCorp news, insider Andrew J. Paine III sold 46,854 shares of KeyCorp stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total transaction of $869,610.24. Following the sale, the insider now owns 110,052 shares in the company, valued at $2,042,565.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Paul N. Harris sold 2,758 shares of KeyCorp stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $18.54, for a total transaction of $51,133.32. The disclosure for this sale can be found here. Insiders have sold 57,212 shares of company stock worth $1,060,508 in the last quarter. Corporate insiders own 0.65% of the company’s stock.

Shares of KeyCorp (KEY) traded down $0.01 during trading on Friday, hitting $18.13. 7,449,200 shares of the stock traded hands, compared to its average volume of 10,924,799. The firm has a market capitalization of $19,710.00, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 1.65 and a beta of 1.10. 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 twelve month low of $16.28 and a twelve month high of $19.53.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. KeyCorp’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. analysts anticipate that KeyCorp will post 1.38 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be paid a $0.105 dividend. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.42 annualized dividend and a dividend yield of 2.32%. KeyCorp’s dividend payout ratio (DPR) is presently 33.04%.

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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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