Skandinaviska Enskilda Banken AB publ cut its stake in KeyCorp (NYSE:KEY) by 23.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 339,336 shares of the financial services provider’s stock after selling 105,109 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in KeyCorp were worth $7,337,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Asset Management LLC acquired a new position in shares of KeyCorp during the 3rd quarter worth $27,000. Lloyd Advisory Services LLC. raised its holdings in shares of KeyCorp by 103.2% during the 3rd quarter. Lloyd Advisory Services LLC. now owns 1,376 shares of the financial services provider’s stock worth $30,000 after buying an additional 699 shares in the last quarter. Tompkins Financial Corp acquired a new position in shares of KeyCorp during the 3rd quarter worth $32,000. First Horizon Advisors Inc. raised its holdings in shares of KeyCorp by 382.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,534 shares of the financial services provider’s stock worth $238,000 after buying an additional 1,216 shares in the last quarter. Finally, Whittier Trust Co. raised its holdings in shares of KeyCorp by 79.5% during the 3rd quarter. Whittier Trust Co. now owns 1,655 shares of the financial services provider’s stock worth $36,000 after buying an additional 733 shares in the last quarter. 82.65% of the stock is owned by hedge funds and other institutional investors.
In other KeyCorp news, CAO Douglas M. Schosser sold 9,301 shares of the stock in a transaction on Tuesday, November 9th. The stock was sold at an average price of $23.71, for a total transaction of $220,526.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Amy G. Brady sold 66,549 shares of the firm’s stock in a transaction on Friday, October 22nd. The stock was sold at an average price of $24.18, for a total value of $1,609,154.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,672 shares of company stock valued at $2,361,619. Company insiders own 0.56% of the company’s stock.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 21st. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.57 by $0.08. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.74 billion. KeyCorp had a return on equity of 15.47% and a net margin of 33.07%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 earnings per share. Equities analysts predict that KeyCorp will post 2.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st will be paid a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 2.89%. KeyCorp’s dividend payout ratio (DPR) is presently 30.47%.
A number of research firms have recently commented on KEY. Wedbush boosted their price target on KeyCorp from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Friday, October 22nd. Stephens boosted their price objective on KeyCorp from $21.50 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, October 22nd. UBS Group began coverage on KeyCorp in a research report on Wednesday. They set a “buy” rating and a $32.00 price objective on the stock. Odeon Capital Group upgraded KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, January 7th. Finally, Royal Bank of Canada reduced their price objective on KeyCorp from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, November 4th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $26.63.
KeyCorp Company Profile
KeyCorp operates as bank holding company, which engages in the provision of financial services. it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.
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