KeyCorp (KEY) Holdings Lifted by LGT Capital Partners LTD.
LGT Capital Partners LTD. grew its holdings in shares of KeyCorp (NYSE:KEY) by 53.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,510,580 shares of the financial services provider’s stock after purchasing an additional 872,460 shares during the period. KeyCorp comprises 3.1% of LGT Capital Partners LTD.’s holdings, making the stock its 8th largest holding. LGT Capital Partners LTD. owned 0.24% of KeyCorp worth $37,106,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Scout Investments Inc. boosted its position in shares of KeyCorp by 102.8% during the 4th quarter. Scout Investments Inc. now owns 1,740,197 shares of the financial services provider’s stock worth $25,720,000 after acquiring an additional 882,064 shares in the last quarter. New England Research & Management Inc. boosted its position in shares of KeyCorp by 3.7% during the 4th quarter. New England Research & Management Inc. now owns 50,245 shares of the financial services provider’s stock worth $743,000 after acquiring an additional 1,800 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of KeyCorp by 4.2% during the 4th quarter. State of Alaska Department of Revenue now owns 155,123 shares of the financial services provider’s stock worth $2,292,000 after acquiring an additional 6,229 shares in the last quarter. USS Investment Management Ltd acquired a new stake in shares of KeyCorp during the 4th quarter worth approximately $20,369,000. Finally, Fulton Bank N.A. boosted its position in shares of KeyCorp by 38.9% during the 4th quarter. Fulton Bank N.A. now owns 16,715 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 4,680 shares in the last quarter. Hedge funds and other institutional investors own 79.44% of the company’s stock.
In other news, insider Donald R. Kimble acquired 5,000 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was bought at an average cost of $18.55 per share, for a total transaction of $92,750.00. Following the completion of the transaction, the insider now directly owns 253,847 shares in the company, valued at approximately $4,708,861.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Beth E. Mooney acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were purchased at an average price 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 currently owned by company insiders.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.64 billion. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. As a group, sell-side analysts forecast that KeyCorp will post 1.74 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Monday, March 4th. KeyCorp’s payout ratio is currently 50.00%.
KEY has been the topic of several analyst reports. Raymond James reiterated a “hold” rating on shares of KeyCorp in a research report on Wednesday, December 19th. BMO Capital Markets reduced their price target on shares of KeyCorp from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, October 19th. Zacks Investment Research upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. Nomura reiterated a “neutral” rating and set a $18.00 price target (down previously from $20.00) on shares of KeyCorp in a research report on Tuesday, November 13th. Finally, Sandler O’Neill upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and increased their price target for the stock from $16.50 to $19.00 in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price 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.
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