Skandinaviska Enskilda Banken AB publ Raises Position in KeyCorp (NYSE:KEY)
Skandinaviska Enskilda Banken AB publ boosted its holdings in KeyCorp (NYSE:KEY) by 6.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 200,668 shares of the financial services provider’s stock after purchasing an additional 12,255 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in KeyCorp were worth $2,081,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Guggenheim Capital LLC lifted its stake in shares of KeyCorp by 11.5% in the 1st quarter. Guggenheim Capital LLC now owns 1,476,051 shares of the financial services provider’s stock valued at $15,307,000 after acquiring an additional 151,792 shares during the last quarter. Optimal Asset Management Inc. increased its stake in KeyCorp by 77.0% in the 1st quarter. Optimal Asset Management Inc. now owns 104,694 shares of the financial services provider’s stock worth $1,086,000 after purchasing an additional 45,550 shares during the period. Tredje AP fonden increased its stake in KeyCorp by 19.7% in the 1st quarter. Tredje AP fonden now owns 73,167 shares of the financial services provider’s stock worth $759,000 after purchasing an additional 12,051 shares during the period. Johnson Investment Counsel Inc. increased its stake in KeyCorp by 82.3% in the 1st quarter. Johnson Investment Counsel Inc. now owns 28,615 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 12,920 shares during the period. Finally, Carret Asset Management LLC increased its stake in KeyCorp by 8.2% in the 1st quarter. Carret Asset Management LLC now owns 23,444 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 1,775 shares during the period. Institutional investors and hedge funds own 79.33% of the company’s stock.
In related news, Director Ruth Ann M. Gillis bought 4,485 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was acquired at an average cost of $11.10 per share, for a total transaction of $49,783.50. Following the purchase, the director now owns 19,911 shares in the company, valued at $221,012.10. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, COO Christopher M. Gorman purchased 100,000 shares of the stock in a transaction dated Friday, April 17th. The shares were purchased at an average cost of $10.36 per share, for a total transaction of $1,036,000.00. The disclosure for this purchase can be found here. Insiders have purchased 106,485 shares of company stock worth $1,109,564 over the last ninety days. 0.70% of the stock is currently owned by insiders.
KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.06). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.55 billion. KeyCorp had a net margin of 18.85% and a return on equity of 10.43%. KeyCorp’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. On average, equities research analysts predict that KeyCorp will post 0.66 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 6.23%. The ex-dividend date was Monday, June 1st. KeyCorp’s dividend payout ratio is currently 41.11%.
KEY has been the subject of a number of analyst reports. Morgan Stanley increased their target price on shares of KeyCorp from $14.00 to $15.25 and gave the stock an “equal weight” rating in a report on Monday, June 8th. Citigroup dropped their price target on KeyCorp from $21.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, March 30th. Bank of America downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research report on Friday, April 17th. TheStreet cut shares of KeyCorp from a “b” rating to a “c+” rating in a research report on Wednesday, March 11th. Finally, Wedbush reiterated an “outperform” rating on shares of KeyCorp in a research report on Tuesday, April 7th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. KeyCorp presently has a consensus rating of “Hold” and a consensus price target of $19.15.
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.
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