Deltec Asset Management LLC Buys New Position in KeyCorp (KEY)
Deltec Asset Management LLC bought a new stake in shares of KeyCorp (NYSE:KEY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,000 shares of the financial services provider’s stock, valued at approximately $376,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Cypress Capital Management LLC WY grew its stake in KeyCorp by 177.9% in the second quarter. Cypress Capital Management LLC WY now owns 7,030 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 4,500 shares during the period. Sun Life Financial INC grew its stake in 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 worth $151,000 after purchasing an additional 8,037 shares during the period. Quantbot Technologies LP purchased a new stake in KeyCorp in the second quarter worth $174,000. First Financial Bank Trust Division purchased a new stake in KeyCorp in the second quarter worth $192,000. Finally, Equity Investment Corp Acquisition Inc grew its stake in KeyCorp by 3.9% in the second quarter. Equity Investment Corp Acquisition Inc now owns 10,465 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 390 shares during the period. 81.22% of the stock is currently owned by hedge funds and other institutional investors.
In other KeyCorp news, Director Ruth Ann M. Gillis purchased 2,000 shares of KeyCorp stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $17.91 per share, with a total value of $35,820.00. Following the acquisition, the director now owns 10,551 shares of the company’s stock, valued at approximately $188,968.41. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Amy G. Brady sold 18,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $18.42, for a total value of $331,560.00. The disclosure for this sale can be found here. In the last three months, insiders sold 72,612 shares of company stock valued at $1,344,704. Insiders own 0.65% of the company’s stock.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The business 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 company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS.
Several research firms have commented on KEY. Zacks Investment Research raised KeyCorp from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Morgan Stanley reissued an “overweight” rating and issued a $22.00 target price (up from $21.00) on shares of KeyCorp in a report on Friday, July 7th. BidaskClub downgraded KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Robert W. Baird reissued a “hold” rating and issued a $18.00 target price on shares of KeyCorp in a report on Friday, October 6th. Finally, Citigroup Inc. boosted their target price on KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 9th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $20.53.
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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