National Pension Service grew its holdings in KeyCorp (NYSE:KEY) by 6.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,325,902 shares of the financial services provider’s stock after purchasing an additional 76,671 shares during the quarter. National Pension Service owned about 0.13% of KeyCorp worth $26,372,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in KEY. Reilly Financial Advisors LLC lifted its stake in KeyCorp by 408.3% in the 3rd quarter. Reilly Financial Advisors LLC now owns 6,354 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 5,104 shares in the last quarter. Zions Bancorporation purchased a new position in KeyCorp in the 3rd quarter worth approximately $138,000. Smithfield Trust Co. lifted its stake in KeyCorp by 89.8% in the 3rd quarter. Smithfield Trust Co. now owns 8,537 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 4,040 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in KeyCorp in the 2nd quarter worth approximately $173,000. Finally, Cerebellum GP LLC purchased a new position in KeyCorp in the 3rd quarter worth approximately $187,000. 79.59% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman Beth E. Mooney bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was purchased at an average price of $18.26 per share, for a total transaction of $182,600.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carlton L. Highsmith sold 6,963 shares of KeyCorp stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $18.37, for a total transaction of $127,910.31. Following the completion of the sale, the director now owns 68,088 shares of the company’s stock, valued at approximately $1,250,776.56. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by company insiders.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 18th. The financial services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.64 billion. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. Analysts forecast that KeyCorp will post 1.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Tuesday, November 27th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, November 26th. This represents a $0.68 annualized dividend and a yield of 4.49%. KeyCorp’s dividend payout ratio (DPR) is presently 50.00%.
KEY has been the topic of a number of research reports. Zacks Investment Research lowered shares of KeyCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. Wedbush set a $23.00 target price on shares of KeyCorp and gave the stock a “buy” rating in a research note on Thursday, September 13th. ValuEngine lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Standpoint Research raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Finally, Nomura reduced their price target on shares of KeyCorp from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, October 19th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $22.89.
WARNING: This article was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://www.com-unik.info/2018/12/16/national-pension-service-grows-holdings-in-keycorp-key.html.
KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
Recommended Story: Inflation
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.