Gulf International Bank UK Ltd lowered its stake in KeyCorp (NYSE:KEY) by 31.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 256,770 shares of the financial services provider’s stock after selling 117,819 shares during the period. Gulf International Bank UK Ltd’s holdings in KeyCorp were worth $3,795,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. LGT Capital Partners LTD. boosted its holdings in KeyCorp by 0.8% in the third quarter. LGT Capital Partners LTD. now owns 1,638,120 shares of the financial services provider’s stock valued at $32,582,000 after acquiring an additional 13,260 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in KeyCorp in the third quarter valued at $6,582,000. Robeco Institutional Asset Management B.V. boosted its holdings in KeyCorp by 684.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 678,064 shares of the financial services provider’s stock valued at $13,487,000 after acquiring an additional 591,574 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in KeyCorp by 33.5% in the third quarter. JPMorgan Chase & Co. now owns 36,176,502 shares of the financial services provider’s stock valued at $719,551,000 after acquiring an additional 9,086,291 shares in the last quarter. Finally, Connable Office Inc. boosted its holdings in KeyCorp by 909.4% in the third quarter. Connable Office Inc. now owns 104,687 shares of the financial services provider’s stock valued at $2,082,000 after acquiring an additional 94,316 shares in the last quarter. Institutional investors and hedge funds own 79.44% of the company’s stock.
In related news, insider Donald R. Kimble purchased 5,000 shares of the stock in a transaction dated Friday, November 2nd. The stock was purchased at an average price of $18.55 per share, with a total value of $92,750.00. Following the transaction, the insider now directly owns 253,847 shares in the company, valued at $4,708,861.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Beth E. Mooney purchased 10,000 shares of the stock in a transaction dated Thursday, November 1st. The stock was bought at an average cost of $18.26 per share, with a total value of $182,600.00. The disclosure for this purchase can be found here. 0.67% of the stock is owned by insiders.
KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.64 billion. KeyCorp had a return on equity of 12.56% and a net margin of 21.47%. KeyCorp’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. Sell-side analysts forecast that KeyCorp will post 1.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Monday, March 4th. KeyCorp’s dividend payout ratio is presently 50.00%.
A number of brokerages have recently commented on KEY. ValuEngine cut shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Raymond James restated a “hold” rating on shares of KeyCorp in a report on Wednesday, December 19th. Standpoint Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a report on Friday, October 12th. BMO Capital Markets restated a “buy” rating and set a $19.00 target price on shares of KeyCorp in a report on Tuesday, December 18th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $21.00 target price on shares of KeyCorp in a report on Monday, October 22nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $22.29.
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.
Recommended Story: Catch-Up Contributions
Want to see what other hedge funds are holding KEY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KeyCorp (NYSE:KEY).
Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.