Dai Ichi Life Insurance Company Ltd Grows Stake in KeyCorp (KEY)
Dai Ichi Life Insurance Company Ltd grew its position in KeyCorp (NYSE:KEY) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 427,154 shares of the financial services provider’s stock after acquiring an additional 21,515 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in KeyCorp were worth $8,039,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of KeyCorp in the third quarter valued at approximately $145,000. Sun Life Financial INC increased its holdings in shares of KeyCorp by 80,370.0% in the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 8,037 shares during the last quarter. AllSquare Wealth Management LLC acquired a new stake in shares of KeyCorp in the third quarter valued at approximately $173,000. Quantbot Technologies LP acquired a new stake in shares of KeyCorp in the second quarter valued at approximately $174,000. Finally, Connable Office Inc. acquired a new stake in shares of KeyCorp in the third quarter valued at approximately $195,000. Institutional investors and hedge funds own 82.42% of the company’s stock.
In other news, 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 value of $51,133.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $869,610.24. Following the completion of 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 sold 57,212 shares of company stock valued at $1,060,508 over the last ninety days. Insiders own 0.65% of the company’s stock.
Shares of KeyCorp (KEY) opened at $18.14 on Monday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. The stock has a market capitalization of $19,510.00, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.65 and a beta of 1.10. KeyCorp has a one year low of $16.28 and a one year high of $19.53.
KeyCorp (NYSE:KEY) last posted its earnings results 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 company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share. equities analysts expect that KeyCorp will post 1.37 EPS for the current year.
The company 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. The ex-dividend date is Monday, November 27th. This is a boost from KeyCorp’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.32%. KeyCorp’s payout ratio is presently 33.04%.
Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $21.00 price target on shares of KeyCorp in a report on Thursday, October 19th. Citigroup Inc. increased their price target on KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, October 9th. Robert W. Baird reaffirmed a “hold” rating and issued a $18.00 price target on shares of KeyCorp in a report on Friday, October 6th. Wells Fargo & Company assumed coverage on KeyCorp in a report on Wednesday, August 9th. They issued a “market perform” rating and a $19.00 price target for the company. Finally, BidaskClub cut KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.82.
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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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