Tokio Marine Asset Management Co. Ltd. Has $796,000 Stake in KeyCorp (KEY)
Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of KeyCorp (NYSE:KEY) by 192.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,293 shares of the financial services provider’s stock after buying an additional 27,848 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in KeyCorp were worth $796,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in KEY. Paloma Partners Management Co boosted its stake in KeyCorp by 39.1% during the 1st quarter. Paloma Partners Management Co now owns 34,920 shares of the financial services provider’s stock worth $621,000 after acquiring an additional 9,807 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of KeyCorp in the first quarter worth $215,000. Columbia Partners L L C Investment Management bought a new stake in shares of KeyCorp in the first quarter worth $450,000. Laurel Wealth Advisors Inc. lifted its position in shares of KeyCorp by 729.9% in the first quarter. Laurel Wealth Advisors Inc. now owns 48,011 shares of the financial services provider’s stock worth $853,000 after purchasing an additional 42,226 shares in the last quarter. Finally, Xact Kapitalforvaltning AB lifted its position in shares of KeyCorp by 18.4% in the second quarter. Xact Kapitalforvaltning AB now owns 223,427 shares of the financial services provider’s stock worth $4,187,000 after purchasing an additional 34,732 shares in the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on KEY. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of KeyCorp in a report on Saturday, July 22nd. Royal Bank Of Canada restated a “buy” rating and issued a $21.00 price target on shares of KeyCorp in a research note on Friday, July 28th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $20.50 price objective on shares of KeyCorp in a research report on Friday, July 21st. Zacks Investment Research raised shares of KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Tuesday, July 11th. Finally, Instinet reissued a “buy” rating and issued a $23.00 target price on shares of KeyCorp in a report on Wednesday, July 12th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $20.53.
In other KeyCorp news, insider Amy G. Brady sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $18.42, for a total transaction of $331,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ruth Ann M. Gillis acquired 2,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were purchased at an average price of $17.91 per share, with a total value of $35,820.00. Following the completion of the purchase, the director now owns 10,551 shares in the company, valued at approximately $188,968.41. The disclosure for this purchase can be found here. In the last three months, insiders sold 72,612 shares of company stock valued at $1,344,704. Insiders own 0.65% of the company’s stock.
KeyCorp (NYSE:KEY) last announced its 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 firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.30 EPS.
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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