Rhumbline Advisers lowered its stake in shares of KeyCorp (NYSE:KEY) by 9.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,798,096 shares of the financial services provider’s stock after selling 184,520 shares during the period. Rhumbline Advisers owned approximately 0.17% of KeyCorp worth $35,135,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of KEY. Kiley Juergens Wealth Management LLC purchased a new position in shares of KeyCorp during the 2nd quarter worth approximately $113,000. Mount Yale Investment Advisors LLC purchased a new position in shares of KeyCorp during the 1st quarter worth approximately $114,000. First Personal Financial Services boosted its position in shares of KeyCorp by 139.7% during the 1st quarter. First Personal Financial Services now owns 5,894 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 3,435 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of KeyCorp by 8,462.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,165 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 6,093 shares during the period. Finally, Edge Wealth Management LLC purchased a new position in shares of KeyCorp during the 2nd quarter worth approximately $161,000. 80.62% of the stock is owned by hedge funds and other institutional investors.
In other KeyCorp news, Director H James Dallas purchased 9,610 shares of the firm’s stock in a transaction on Monday, July 23rd. The stock was bought at an average price of $20.81 per share, with a total value of $199,984.10. Following the transaction, the director now directly owns 98,791 shares of the company’s stock, valued at approximately $2,055,840.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher M. Gorman sold 288,546 shares of the firm’s stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $20.80, for a total transaction of $6,001,756.80. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.
Shares of KEY stock opened at $21.45 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.89 and a quick ratio of 0.88. KeyCorp has a 52 week low of $16.28 and a 52 week high of $22.40. The company has a market capitalization of $22.49 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 0.78 and a beta of 1.00.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.02. KeyCorp had a net margin of 20.05% and a return on equity of 11.73%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the company posted $0.36 EPS. The firm’s revenue was up .4% compared to the same quarter last year. equities analysts forecast that KeyCorp will post 1.74 EPS for the current fiscal year.
KeyCorp announced that its Board of Directors has authorized a share buyback plan on Thursday, June 28th that permits the company to repurchase $1.23 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Tuesday, August 28th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Monday, August 27th. This is a boost from KeyCorp’s previous quarterly dividend of $0.12. KeyCorp’s dividend payout ratio (DPR) is currently 35.29%.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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