Schwab Charles Investment Management Inc. Buys 71,018 Shares of KeyCorp (KEY)
Schwab Charles Investment Management Inc. lifted its stake in KeyCorp (NYSE:KEY) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,575,887 shares of the financial services provider’s stock after purchasing an additional 71,018 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.33% of KeyCorp worth $67,299,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. NGAM Advisors L.P. increased its stake in KeyCorp by 11.4% during the second quarter. NGAM Advisors L.P. now owns 248,447 shares of the financial services provider’s stock worth $4,656,000 after acquiring an additional 25,387 shares during the last quarter. Harbour Capital Advisors LLC increased its stake in KeyCorp by 1,684.8% during the second quarter. Harbour Capital Advisors LLC now owns 18,740 shares of the financial services provider’s stock worth $1,000,000 after acquiring an additional 17,690 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in KeyCorp by 39.8% during the second quarter. Great West Life Assurance Co. Can now owns 1,144,290 shares of the financial services provider’s stock worth $21,433,000 after acquiring an additional 326,043 shares during the last quarter. Sei Investments Co. increased its stake in KeyCorp by 31.0% during the second quarter. Sei Investments Co. now owns 367,559 shares of the financial services provider’s stock worth $6,888,000 after acquiring an additional 86,968 shares during the last quarter. Finally, Korea Investment CORP increased its stake in KeyCorp by 50.6% during the second quarter. Korea Investment CORP now owns 845,332 shares of the financial services provider’s stock worth $15,842,000 after acquiring an additional 283,881 shares during the last quarter. 81.20% of the stock is owned by hedge funds and other institutional investors.
KEY has been the subject of several recent analyst reports. Wells Fargo & Company initiated coverage on KeyCorp in a research note on Wednesday, August 9th. They set a “market perform” rating and a $19.00 target price for the company. Sanford C. Bernstein raised KeyCorp from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $21.00 to $22.00 in a research note on Thursday, September 14th. Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Robert W. Baird reaffirmed a “hold” rating and issued a $18.00 price objective on shares of KeyCorp in a research note on Friday, October 6th. Finally, Citigroup lifted their price objective on KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 9th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $20.97.
In related news, insider Andrew J. Paine III sold 46,854 shares of KeyCorp stock in a transaction 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 completion of the transaction, the insider now directly owns 110,052 shares in the company, valued at $2,042,565.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Elizabeth R. Gile bought 1,374 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was bought at an average price of $18.23 per share, with a total value of $25,048.02. Following the completion of the acquisition, the director now owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 57,212 shares of company stock valued at $1,060,508. 0.65% of the stock is currently owned by company insiders.
KeyCorp (NYSE:KEY) traded up $0.15 during trading hours on Monday, reaching $19.13. The company had a trading volume of 15,609,900 shares, compared to its average volume of 10,979,460. The stock has a market capitalization of $20,572.40, a price-to-earnings ratio of 14.49, a PEG ratio of 1.74 and a beta of 1.10. KeyCorp has a 52-week low of $16.28 and a 52-week high of $19.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.35. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. KeyCorp’s revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share. equities analysts anticipate that KeyCorp will post 1.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be issued a $0.105 dividend. The ex-dividend date is Monday, November 27th. This is a positive change from KeyCorp’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a yield of 2.20%. KeyCorp’s dividend payout ratio (DPR) is 36.84%.
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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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