Fuller & Thaler Asset Management Inc. Buys 1,985,847 Shares of KeyCorp (KEY)
Fuller & Thaler Asset Management Inc. lifted its stake in shares of KeyCorp (NYSE:KEY) by 36.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,486,279 shares of the financial services provider’s stock after buying an additional 1,985,847 shares during the quarter. KeyCorp makes up about 1.7% of Fuller & Thaler Asset Management Inc.’s investment portfolio, making the stock its 9th largest holding. Fuller & Thaler Asset Management Inc. owned approximately 0.70% of KeyCorp worth $140,892,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in KEY. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of KeyCorp during the third quarter worth approximately $145,000. Sun Life Financial INC grew its position in shares of KeyCorp by 80,370.0% during the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after buying an additional 8,037 shares in the last quarter. AllSquare Wealth Management LLC acquired a new stake in shares of KeyCorp during the third quarter worth approximately $173,000. Quantbot Technologies LP acquired a new stake in shares of KeyCorp during the second quarter worth approximately $174,000. Finally, Connable Office Inc. acquired a new stake in shares of KeyCorp during the third quarter worth approximately $195,000. 82.42% of the stock is owned by institutional investors and hedge funds.
In related news, insider Andrew J. Paine III sold 46,854 shares of KeyCorp stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total transaction of $869,610.24. Following the sale, the insider now directly owns 110,052 shares in the company, valued at $2,042,565.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Paul N. Harris sold 2,758 shares of KeyCorp stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total transaction of $51,133.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,212 shares of company stock worth $1,060,508. Company insiders own 0.65% of the company’s stock.
Shares of KeyCorp (KEY) traded up $0.15 during midday trading on Tuesday, hitting $18.46. 10,361,800 shares of the company were exchanged, compared to its average volume of 10,916,164. KeyCorp has a fifty-two week low of $16.28 and a fifty-two week high of $19.53. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $19,690.00, a PE ratio of 13.87, a P/E/G ratio of 1.67 and a beta of 1.10.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $1.56 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. analysts expect 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 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 2.28%. The ex-dividend date of this dividend is Monday, November 27th. KeyCorp’s payout ratio is currently 33.04%.
KEY has been the subject of a number of research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of KeyCorp in a report on Wednesday, September 27th. BMO Capital Markets reaffirmed a “buy” rating and issued a $22.00 price objective on shares of KeyCorp in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of KeyCorp in a report on Friday, October 20th. Zacks Investment Research downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $21.00 price objective on shares of KeyCorp in a report on Friday, July 28th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $20.82.
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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