Advisor Group Inc. Has $960,000 Stake in KeyCorp (KEY)
Advisor Group Inc. grew its holdings in shares of KeyCorp (NYSE:KEY) by 29.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,950 shares of the financial services provider’s stock after buying an additional 11,491 shares during the quarter. Advisor Group Inc.’s holdings in KeyCorp were worth $960,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of KeyCorp by 3.9% during the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock valued at $2,087,987,000 after buying an additional 4,230,390 shares during the last quarter. BlackRock Inc. grew its stake in shares of KeyCorp by 2.7% during the second quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock valued at $1,624,654,000 after buying an additional 2,280,450 shares during the last quarter. Boston Partners bought a new position in shares of KeyCorp during the third quarter valued at approximately $356,111,000. Northern Trust Corp grew its stake in shares of KeyCorp by 1.9% during the second quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock valued at $232,925,000 after buying an additional 231,558 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of KeyCorp by 0.5% during the third quarter. Bessemer Group Inc. now owns 12,065,873 shares of the financial services provider’s stock valued at $227,079,000 after buying an additional 64,958 shares during the last quarter. 82.42% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on KEY. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 target price on shares of KeyCorp in a research note on Thursday, October 19th. Citigroup Inc. upped their target price on KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 9th. Robert W. Baird reaffirmed a “hold” rating and set a $18.00 target price on shares of KeyCorp in a research note on Friday, October 6th. Wells Fargo & Company began coverage on KeyCorp in a research note on Wednesday, August 9th. They set a “market perform” rating and a $19.00 target price on the stock. Finally, BidaskClub cut KeyCorp from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Four equities 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 stock. The stock presently has an average rating of “Hold” and an average target price of $20.82.
Shares of KeyCorp (NYSE:KEY) opened at $18.46 on Tuesday. KeyCorp has a twelve month low of $16.28 and a twelve month high of $19.53. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $19,690.00, a price-to-earnings ratio of 13.87, a PEG ratio of 1.67 and a beta of 1.10.
KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the business posted $0.30 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. sell-side analysts expect that KeyCorp will post 1.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, November 27th. This is a positive change from KeyCorp’s previous quarterly dividend of $0.10. KeyCorp’s dividend payout ratio is currently 33.04%.
In other news, insider Andrew J. Paine III sold 46,854 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total transaction of $869,610.24. Following the completion of the sale, the insider now owns 110,052 shares in the company, valued at approximately $2,042,565.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Paul N. Harris sold 2,758 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total value of $51,133.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,212 shares of company stock valued at $1,060,508. Company insiders own 0.65% of the company’s stock.
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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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