Tredje AP fonden lowered its holdings in shares of KeyCorp (NYSE:KEY) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,643 shares of the financial services provider’s stock after selling 8,860 shares during the quarter. Tredje AP fonden’s holdings in KeyCorp were worth $1,932,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in KeyCorp during the 3rd quarter valued at approximately $145,000. Sun Life Financial INC grew its holdings in KeyCorp by 80,370.0% during the 2nd quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock valued at $151,000 after buying an additional 8,037 shares in the last quarter. AllSquare Wealth Management LLC purchased a new position in KeyCorp during the 3rd quarter valued at approximately $173,000. Quantbot Technologies LP purchased a new position in KeyCorp during the 2nd quarter valued at approximately $174,000. Finally, Connable Office Inc. purchased a new position in KeyCorp during the 3rd quarter valued at approximately $195,000. Hedge funds and other institutional investors own 81.20% of the company’s stock.
In related news, General Counsel Paul N. Harris sold 2,758 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $18.54, for a total transaction of $51,133.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew J. Paine III sold 46,854 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the sale, the insider now directly owns 110,052 shares of the company’s stock, valued at $2,042,565.12. The disclosure for this sale can be found here. Insiders have sold a total of 57,212 shares of company stock valued at $1,060,508 over the last three months. 0.65% of the stock is owned by corporate insiders.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the company earned $0.30 EPS. KeyCorp’s quarterly revenue was up 13.7% compared to the same quarter last year. equities research analysts anticipate that KeyCorp will post 1.37 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be paid a dividend of $0.105 per share. This is a positive change from KeyCorp’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, November 27th. KeyCorp’s dividend payout ratio (DPR) is currently 36.84%.
Several equities research analysts have recently issued reports on the company. ValuEngine raised KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research lowered KeyCorp from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. Oppenheimer reaffirmed a “hold” rating on shares of KeyCorp in a research note on Friday, October 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $21.00 price objective on shares of KeyCorp in a research note on Thursday, October 19th. Finally, Citigroup raised their price objective on KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $21.09.
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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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