Essex Financial Services Inc. Has $810,000 Holdings in KeyCorp (KEY)
Essex Financial Services Inc. raised its stake in KeyCorp (NYSE:KEY) by 9.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,028 shares of the financial services provider’s stock after purchasing an additional 3,868 shares during the period. Essex Financial Services Inc.’s holdings in KeyCorp were worth $810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of KEY. Paloma Partners Management Co raised its position in shares of KeyCorp by 39.1% during the 1st quarter. Paloma Partners Management Co now owns 34,920 shares of the financial services provider’s stock worth $621,000 after acquiring an additional 9,807 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of KeyCorp during the 2nd quarter worth about $594,000. First Financial Bank Trust Division acquired a new stake in shares of KeyCorp during the 2nd quarter worth about $192,000. NN Investment Partners Holdings N.V. raised its position in shares of KeyCorp by 10.8% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 200,620 shares of the financial services provider’s stock worth $3,760,000 after acquiring an additional 19,506 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of KeyCorp by 62.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 68,512 shares of the financial services provider’s stock worth $1,283,000 after acquiring an additional 26,248 shares in the last quarter. 81.25% of the stock is currently owned by institutional investors.
Several research firms have commented on KEY. Zacks Investment Research raised KeyCorp from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. Robert W. Baird reaffirmed a “hold” rating and set a $18.00 price target on shares of KeyCorp in a research report on Friday, October 6th. BidaskClub downgraded KeyCorp from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Citigroup Inc. lifted 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. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $22.00 target price on shares of KeyCorp in a research note on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. KeyCorp presently has a consensus rating of “Hold” and a consensus target price of $20.82.
In related news, Director Ruth Ann M. Gillis purchased 2,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost of $17.91 per share, for a total transaction of $35,820.00. Following the transaction, the director now owns 10,551 shares of the company’s stock, valued at $188,968.41. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Andrew J. Paine III sold 46,854 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the sale, the insider now owns 110,052 shares in the company, valued at $2,042,565.12. The disclosure for this sale can be found here. Insiders have sold 57,212 shares of company stock worth $1,060,508 in the last 90 days. 0.65% of the stock is currently owned by insiders.
Shares of KeyCorp (NYSE:KEY) traded up $0.14 during midday trading on Friday, reaching $17.99. The company’s stock had a trading volume of 2,611,969 shares, compared to its average volume of 11,790,000. KeyCorp has a 12-month low of $15.28 and a 12-month high of $19.53. The firm has a market capitalization of $19,280.00, a PE ratio of 13.58, a P/E/G ratio of 1.63 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.90 and a quick ratio of 0.89.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. KeyCorp’s revenue for the quarter was up 13.7% compared to the same quarter last year. research analysts anticipate that KeyCorp will post 1.38 EPS for the current fiscal year.
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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