Schroder Investment Management Group Purchases 826,913 Shares of KeyCorp (KEY)
Schroder Investment Management Group grew its position in shares of KeyCorp (NYSE:KEY) by 304.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,098,703 shares of the financial services provider’s stock after acquiring an additional 826,913 shares during the quarter. Schroder Investment Management Group owned 0.10% of KeyCorp worth $20,502,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. boosted its holdings in shares of KeyCorp by 78.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock valued at $1,055,000 after buying an additional 24,554 shares during the last quarter. Flippin Bruce & Porter Inc. boosted its holdings in shares of KeyCorp by 3.9% in the 2nd quarter. Flippin Bruce & Porter Inc. now owns 451,881 shares of the financial services provider’s stock valued at $8,468,000 after buying an additional 17,103 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of KeyCorp by 11.1% in the 3rd quarter. Toronto Dominion Bank now owns 428,912 shares of the financial services provider’s stock valued at $8,071,000 after buying an additional 42,971 shares during the last quarter. Greenwood Capital Associates LLC boosted its holdings in shares of KeyCorp by 1.3% in the 2nd quarter. Greenwood Capital Associates LLC now owns 41,874 shares of the financial services provider’s stock valued at $785,000 after buying an additional 534 shares during the last quarter. Finally, Private Capital Management Inc. boosted its holdings in shares of KeyCorp by 29.7% in the 3rd quarter. Private Capital Management Inc. now owns 27,500 shares of the financial services provider’s stock valued at $518,000 after buying an additional 6,300 shares during the last quarter. 81.20% of the stock is owned by hedge funds and other institutional investors.
KeyCorp (NYSE:KEY) traded up $0.50 during mid-day trading on Tuesday, reaching $19.63. The company’s stock had a trading volume of 16,942,200 shares, compared to its average volume of 11,005,056. 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 company has a market cap of $20,572.40, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.74 and a beta of 1.10. KeyCorp has a 1 year low of $16.28 and a 1 year high of $19.93.
KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The firm 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 company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 EPS. equities research analysts expect that KeyCorp will post 1.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be given 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 2.14%. KeyCorp’s dividend payout ratio (DPR) is presently 36.84%.
In related news, Director Carlton L. Highsmith sold 7,600 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $18.39, for a total value of $139,764.00. Following the transaction, the director now owns 68,725 shares in the company, valued at $1,263,852.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew J. Paine III sold 46,854 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the completion of the transaction, 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 have sold a total of 57,212 shares of company stock worth $1,060,508 in the last quarter. Company insiders own 0.65% of the company’s stock.
Several research firms have recently commented on KEY. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.00 price objective on shares of KeyCorp in a report on Thursday, October 19th. Citigroup increased their price objective on KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, October 9th. Robert W. Baird reissued a “hold” rating and issued a $18.00 price objective on shares of KeyCorp in a report on Friday, October 6th. Wells Fargo & Company began coverage on KeyCorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $19.00 price target on the stock. Finally, Sanford C. Bernstein upgraded KeyCorp from a “market perform” rating to an “outperform” rating and increased their price target for the company from $21.00 to $22.00 in a research note on Thursday, September 14th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. KeyCorp presently has an average rating of “Hold” and an average price target of $20.97.
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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