Hanseatic Management Services Inc. Has $1.98 Million Stake in KeyCorp (KEY)
Hanseatic Management Services Inc. grew its position in KeyCorp (NYSE:KEY) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,421 shares of the financial services provider’s stock after buying an additional 3,741 shares during the quarter. KeyCorp accounts for about 1.0% of Hanseatic Management Services Inc.’s portfolio, making the stock its 27th largest holding. Hanseatic Management Services Inc.’s holdings in KeyCorp were worth $1,976,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Ballentine Partners LLC increased its position in KeyCorp by 0.5% during the 2nd quarter. Ballentine Partners LLC now owns 12,113 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 66 shares in the last quarter. Comerica Securities Inc. increased its position in KeyCorp by 0.7% during the 2nd quarter. Comerica Securities Inc. now owns 11,535 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 83 shares in the last quarter. Essex Financial Services Inc. increased its position in KeyCorp by 0.3% during the 2nd quarter. Essex Financial Services Inc. now owns 39,160 shares of the financial services provider’s stock worth $734,000 after purchasing an additional 117 shares in the last quarter. Dividend Assets Capital LLC increased its position in KeyCorp by 0.5% during the 2nd quarter. Dividend Assets Capital LLC now owns 24,475 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 125 shares in the last quarter. Finally, HM Payson & Co. increased its position in KeyCorp by 1.2% during the 2nd quarter. HM Payson & Co. now owns 13,041 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 80.78% of the company’s stock.
In related news, Director Bruce D. Broussard acquired 2,500 shares of KeyCorp stock in a transaction on Wednesday, July 26th. The shares were acquired at an average cost of $18.17 per share, with a total value of $45,425.00. Following the transaction, the director now owns 12,500 shares in the company, valued at $227,125. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David K. Wilson acquired 3,500 shares of KeyCorp stock in a transaction on Friday, July 28th. The shares were bought at an average cost of $17.87 per share, for a total transaction of $62,545.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $268,050. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 16,000 shares of company stock worth $290,540 and sold 259,409 shares worth $4,794,449. 0.65% of the stock is owned by insiders.
Shares of KeyCorp (NYSE KEY) traded down 0.11% on Friday, reaching $18.23. 2,780,149 shares of the company traded hands. The stock’s 50 day moving average price is $17.64 and its 200-day moving average price is $18.06. The stock has a market capitalization of $19.83 billion, a P/E ratio of 18.10 and a beta of 1.12. KeyCorp has a one year low of $11.89 and a one year high of $19.53.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. KeyCorp had a net margin of 16.62% and a return on equity of 9.88%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up 52.1% on a year-over-year basis. Equities analysts forecast that KeyCorp will post $1.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 29th were paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, August 25th. KeyCorp’s payout ratio is 38.78%.
KeyCorp declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods set a $20.00 price objective on shares of KeyCorp and gave the stock a “hold” rating in a research report on Saturday, June 24th. Zacks Investment Research cut shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Tuesday. Wells Fargo & Company assumed coverage on shares of KeyCorp in a research report on Wednesday, August 9th. They set a “market perform” rating and a $19.00 price objective for the company. BidaskClub upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of KeyCorp in a research report on Monday, July 3rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.13.
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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