FDO Partners LLC Buys Shares of 30,879 KeyCorp (KEY)
FDO Partners LLC bought a new position in KeyCorp (NYSE:KEY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,879 shares of the financial services provider’s stock, valued at approximately $581,000.
A number of other hedge funds and other institutional investors have also modified their holdings of KEY. Ballentine Partners LLC increased its stake in shares of KeyCorp by 0.5% in the second quarter. Ballentine Partners LLC now owns 12,113 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 66 shares during the period. Comerica Securities Inc. increased its stake in shares of KeyCorp by 0.7% in the second quarter. Comerica Securities Inc. now owns 11,535 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 83 shares during the period. Essex Financial Services Inc. increased its stake in shares of KeyCorp by 0.3% in the second quarter. Essex Financial Services Inc. now owns 39,160 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 117 shares during the period. Dividend Assets Capital LLC increased its stake in shares of KeyCorp by 0.5% in the second quarter. Dividend Assets Capital LLC now owns 24,475 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 125 shares during the period. Finally, HM Payson & Co. increased its stake in shares of KeyCorp by 1.2% in the second quarter. HM Payson & Co. now owns 13,041 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 150 shares during the period. 81.20% of the stock is currently owned by hedge funds and other institutional investors.
KeyCorp (NYSE KEY) traded up $0.15 during midday trading on Monday, hitting $19.13. 15,609,900 shares of the company were exchanged, compared to its average volume of 10,979,460. KeyCorp has a fifty-two week low of $16.28 and a fifty-two week high of $19.53. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $20,572.40, a price-to-earnings ratio of 14.49, a PEG ratio of 1.74 and a beta of 1.10.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.35. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the business earned $0.30 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. analysts forecast that KeyCorp will post 1.37 EPS for the current year.
The business also recently disclosed 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 represents a $0.42 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, November 27th. This is a positive change from KeyCorp’s previous quarterly dividend of $0.10. KeyCorp’s dividend payout ratio (DPR) is currently 36.84%.
Several equities research analysts have commented on the stock. ValuEngine upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday. Citigroup raised their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 9th. Robert W. Baird restated a “hold” rating and issued a $18.00 price target on shares of KeyCorp in a research note on Friday, October 6th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $21.00 price target on shares of KeyCorp in a research note on Thursday, October 19th. Finally, Zacks Investment Research upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. KeyCorp has an average rating of “Hold” and an average target price of $20.97.
In related news, insider Andrew J. Paine III sold 46,854 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total transaction of $869,610.24. Following the transaction, the insider now owns 110,052 shares in the company, valued at $2,042,565.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizabeth R. Gile acquired 1,374 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were bought at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the purchase, the director now directly owns 24,989 shares of the company’s stock, valued at $455,549.47. The disclosure for this purchase can be found here. Insiders have sold 57,212 shares of company stock worth $1,060,508 in the last quarter. Company insiders own 0.65% of the company’s stock.
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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