KeyCorp (KEY) Stake Lifted by Verity & Verity LLC
Verity & Verity LLC lifted its holdings in shares of KeyCorp (NYSE:KEY) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,967 shares of the financial services provider’s stock after purchasing an additional 7,112 shares during the quarter. Verity & Verity LLC’s holdings in KeyCorp were worth $1,900,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of KEY. Vanguard Group Inc. lifted its position in KeyCorp by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after buying an additional 4,230,390 shares during the last quarter. BlackRock Inc. lifted its position in KeyCorp by 2.7% in the 2nd quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock worth $1,624,654,000 after buying an additional 2,280,450 shares during the last quarter. Northern Trust Corp lifted its position in KeyCorp by 1.9% in the 2nd quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock worth $232,925,000 after buying an additional 231,558 shares during the last quarter. Bessemer Group Inc. lifted its position in KeyCorp by 0.7% in the 2nd quarter. Bessemer Group Inc. now owns 12,000,915 shares of the financial services provider’s stock worth $224,897,000 after buying an additional 87,019 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in KeyCorp by 6,189.4% in the 2nd quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock worth $170,679,000 after buying an additional 8,962,913 shares during the last quarter. 81.22% of the stock is owned by institutional investors.
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Shares of KeyCorp (NYSE:KEY) traded up $0.07 during mid-day trading on Friday, reaching $18.51. The company had a trading volume of 8,448,289 shares, compared to its average volume of 12,430,070. The stock has a market capitalization of $19,905.65, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.68 and a beta of 1.10. KeyCorp has a 12 month low of $13.85 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 results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $1.55 billion for 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 revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. equities research analysts predict that KeyCorp will post 1.38 earnings per share for the current year.
A number of analysts recently weighed in on KEY shares. Zacks Investment Research upgraded KeyCorp from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. BidaskClub downgraded KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Robert W. Baird reiterated a “hold” rating and issued a $18.00 price objective on shares of KeyCorp in a research report on Friday, October 6th. Citigroup Inc. boosted their price objective on KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 9th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $22.00 price objective on shares of KeyCorp in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. KeyCorp presently has a consensus rating of “Hold” and an average target price of $20.53.
In other news, Director Ruth Ann M. Gillis purchased 2,000 shares of KeyCorp stock in a transaction that occurred on Monday, August 14th. The shares were bought at an average cost of $17.91 per share, with a total value of $35,820.00. Following the completion of the purchase, the director now directly owns 10,551 shares in the company, valued at $188,968.41. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Amy G. Brady sold 18,000 shares of the company’s stock in a transaction on 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. Over the last ninety days, insiders sold 72,612 shares of company stock worth $1,344,704. 0.65% of the stock is owned by insiders.
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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