Columbia Partners L L C Investment Management Boosts Stake in KeyCorp (KEY)
Columbia Partners L L C Investment Management grew its holdings in KeyCorp (NYSE:KEY) by 37.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,048 shares of the financial services provider’s stock after purchasing an additional 3,817 shares during the period. Columbia Partners L L C Investment Management’s holdings in KeyCorp were worth $264,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in KeyCorp during the 3rd quarter worth approximately $145,000. Sun Life Financial INC increased its holdings in KeyCorp by 80,370.0% during the 2nd quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 8,037 shares during the period. AllSquare Wealth Management LLC bought a new stake in KeyCorp during the 3rd quarter worth approximately $173,000. Quantbot Technologies LP bought a new stake in KeyCorp during the 2nd quarter worth approximately $174,000. Finally, Connable Office Inc. bought a new stake in KeyCorp during the 3rd quarter worth approximately $195,000. 82.97% of the stock is currently owned by institutional investors.
In other KeyCorp news, General Counsel Paul N. Harris sold 2,758 shares of the company’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 7,600 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $18.39, for a total transaction of $139,764.00. Following the completion of the transaction, the director now owns 68,725 shares of the company’s stock, valued at $1,263,852.75. The disclosure for this sale can be found here. Insiders sold a total of 57,212 shares of company stock valued at $1,060,508 over the last 90 days. Company insiders own 0.65% of the company’s stock.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of KeyCorp in a report on Friday, October 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 target price on shares of KeyCorp in a report on Thursday, October 19th. Citigroup Inc. boosted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 9th. Finally, Robert W. Baird reissued a “hold” rating and issued a $18.00 price target on shares of KeyCorp in a research note on Friday, October 6th. 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 company’s stock. KeyCorp has a consensus rating of “Hold” and an average price target of $20.82.
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KeyCorp (NYSE KEY) traded up $0.18 during trading hours on Friday, reaching $18.31. 9,549,746 shares of the company were exchanged, compared to its average volume of 10,698,833. KeyCorp has a 52 week low of $16.28 and a 52 week high of $19.53. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.06. The company has a market cap of $19,690.57, a price-to-earnings ratio of 13.87, a P/E/G 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, hitting the Thomson Reuters’ consensus estimate of $0.35. KeyCorp had a net margin of 23.57% and a return on equity of 9.84%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the business earned $0.30 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. research analysts predict that KeyCorp will post 1.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be issued a $0.105 dividend. 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. This represents a $0.42 annualized dividend and a yield of 2.29%. KeyCorp’s dividend payout ratio is 33.33%.
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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