Ameriprise Financial Inc. lifted its stake in KeyCorp (NYSE:KEY) by 27.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 858,281 shares of the financial services provider’s stock after acquiring an additional 186,509 shares during the quarter. Ameriprise Financial Inc. owned 0.08% of KeyCorp worth $16,158,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of KEY. Boston Partners acquired a new position in shares of KeyCorp in the 3rd quarter worth approximately $356,111,000. Janus Henderson Group PLC lifted its holdings in shares of KeyCorp by 6,189.4% in the 2nd quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock worth $170,679,000 after acquiring an additional 8,962,913 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of KeyCorp by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after acquiring an additional 4,230,390 shares during the last quarter. Samlyn Capital LLC acquired a new position in shares of KeyCorp in the 2nd quarter worth approximately $57,111,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of KeyCorp by 561.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,954,024 shares of the financial services provider’s stock worth $55,358,000 after acquiring an additional 2,507,628 shares during the last quarter. Hedge funds and other institutional investors own 81.20% of the company’s stock.
In other KeyCorp news, Director Carlton L. Highsmith sold 7,600 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $18.39, for a total value of $139,764.00. Following the sale, the director now directly owns 68,725 shares of the company’s stock, valued at approximately $1,263,852.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Elizabeth R. Gile acquired 1,374 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was purchased at an average cost of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the transaction, the director now owns 24,989 shares in the company, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Over the last three months, insiders sold 57,212 shares of company stock worth $1,060,508. Insiders own 0.65% of the company’s stock.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.35. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the firm posted $0.30 EPS. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. equities analysts predict that KeyCorp will post 1.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be given a $0.105 dividend. The ex-dividend date of this dividend is Monday, November 27th. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.13%. KeyCorp’s dividend payout ratio is currently 36.84%.
KEY has been the topic of several recent analyst reports. Sanford C. Bernstein upgraded shares of KeyCorp from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $21.00 to $22.00 in a report on Thursday, September 14th. Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Robert W. Baird reiterated a “hold” rating and set a $18.00 target price on shares of KeyCorp in a report on Friday, October 6th. Citigroup increased their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 9th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $21.00 target price on shares of KeyCorp in a report on Thursday, October 19th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. KeyCorp presently has an average rating of “Buy” and an average target price of $21.09.
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.
Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.