Lowe Brockenbrough & Co. Inc. Buys Shares of 287,075 KeyCorp (KEY)
Lowe Brockenbrough & Co. Inc. bought a new position in KeyCorp (NYSE:KEY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 287,075 shares of the financial services provider’s stock, valued at approximately $5,403,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its position in shares of KeyCorp by 27.8% in the third quarter. Ameriprise Financial Inc. now owns 858,281 shares of the financial services provider’s stock worth $16,158,000 after acquiring an additional 186,509 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of KeyCorp by 951.0% in the third quarter. Quantbot Technologies LP now owns 97,713 shares of the financial services provider’s stock worth $1,838,000 after acquiring an additional 88,416 shares during the last quarter. Noesis Capital Mangement Corp acquired a new stake in shares of KeyCorp in the third quarter worth approximately $223,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of KeyCorp by 3.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 273,643 shares of the financial services provider’s stock worth $5,150,000 after acquiring an additional 9,772 shares during the last quarter. Finally, Comerica Bank boosted its position in shares of KeyCorp by 4.0% in the third quarter. Comerica Bank now owns 451,667 shares of the financial services provider’s stock worth $8,234,000 after acquiring an additional 17,332 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.
KeyCorp (NYSE:KEY) traded down $0.01 during mid-day trading on Friday, reaching $18.13. 7,449,200 shares of the company traded hands, compared to its average volume of 10,924,799. The firm has a market capitalization of $19,710.00, a P/E ratio of 13.74, a P/E/G ratio of 1.65 and a beta of 1.10. KeyCorp has a 1-year low of $16.28 and a 1-year 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.
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, 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 company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the company earned $0.30 EPS. KeyCorp’s revenue was up 13.7% on a year-over-year basis. sell-side analysts expect that KeyCorp will post 1.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 2.32%. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, November 27th. KeyCorp’s dividend payout ratio is presently 33.04%.
In other KeyCorp news, General Counsel Paul N. Harris sold 2,758 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $18.54, for a total transaction of $51,133.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Andrew J. Paine III sold 46,854 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the sale, the insider now owns 110,052 shares in the company, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. Insiders sold a total of 57,212 shares of company stock valued at $1,060,508 over the last three months. 0.65% of the stock is owned by corporate insiders.
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KEY has been the topic of a number of recent research reports. Zacks Investment Research raised shares of KeyCorp from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. Citigroup Inc. lifted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 9th. Robert W. Baird reaffirmed a “hold” rating and set a $18.00 price target on shares of KeyCorp in a research report on Friday, October 6th. BidaskClub cut shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $22.00 price target on shares of KeyCorp in a research report on Thursday, July 27th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average 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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