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.
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