KeyCorp (KEY) Shares Bought by Chartwell Investment Partners LLC
Chartwell Investment Partners LLC raised its stake in shares of KeyCorp (NYSE:KEY) by 504.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 277,085 shares of the financial services provider’s stock after acquiring an additional 231,255 shares during the quarter. Chartwell Investment Partners LLC’s holdings in KeyCorp were worth $5,214,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of KEY. Harel Insurance Investments & Financial Services Ltd. bought a new position in KeyCorp during the 3rd quarter valued at $145,000. Sun Life Financial INC boosted its stake in KeyCorp by 80,370.0% during the 2nd quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 8,037 shares during the last quarter. AllSquare Wealth Management LLC bought a new position in KeyCorp during the 3rd quarter valued at $173,000. Quantbot Technologies LP bought a new position in KeyCorp during the 2nd quarter valued at $174,000. Finally, Connable Office Inc. bought a new position in KeyCorp during the 3rd quarter valued at $195,000. Hedge funds and other institutional investors own 82.42% of the company’s stock.
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In other KeyCorp news, Director Carlton L. Highsmith sold 7,600 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $18.39, for a total transaction of $139,764.00. Following the transaction, the director now owns 68,725 shares of the company’s stock, valued at approximately $1,263,852.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Andrew J. Paine III sold 46,854 shares of the firm’s 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 transaction, the insider now directly owns 110,052 shares in the company, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,212 shares of company stock worth $1,060,508. 0.65% of the stock is owned by corporate insiders.
Shares of KeyCorp (KEY) traded down $0.12 during trading hours on Thursday, reaching $18.16. 9,207,801 shares of the company traded hands, compared to its average volume of 10,899,456. The company has a market cap of $19,400.00, a P/E ratio of 13.85, a PEG ratio of 1.66 and a beta of 1.10. KeyCorp has a 12-month low of $16.28 and a 12-month high of $19.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90.
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 the Thomson Reuters’ consensus estimate of $0.35. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. KeyCorp’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the firm posted $0.30 EPS. sell-side analysts anticipate that KeyCorp will post 1.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders 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. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.42 annualized dividend and a yield of 2.31%. KeyCorp’s dividend payout ratio (DPR) is presently 33.04%.
A number of research analysts have commented on the stock. ValuEngine downgraded shares of KeyCorp from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of KeyCorp in a research report on Friday, October 20th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $21.00 price target on shares of KeyCorp in a research report on Thursday, October 19th. Finally, Citigroup Inc. raised their price target on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 9th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. KeyCorp has an average rating of “Hold” and a consensus price target 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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