86,326 Shares in KeyCorp (KEY) Acquired by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. acquired a new position in KeyCorp (NYSE:KEY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 86,326 shares of the financial services provider’s stock, valued at approximately $1,717,000.
Other hedge funds have also recently bought and sold shares of the company. LGT Capital Partners LTD. boosted its holdings in KeyCorp by 0.8% in the 3rd quarter. LGT Capital Partners LTD. now owns 1,638,120 shares of the financial services provider’s stock worth $32,582,000 after buying an additional 13,260 shares during the last quarter. Jaffetilchin Investment Partners LLC acquired a new stake in KeyCorp in the 3rd quarter worth about $329,000. Albion Financial Group UT boosted its holdings in KeyCorp by 3.0% in the 2nd quarter. Albion Financial Group UT now owns 474,321 shares of the financial services provider’s stock worth $9,268,000 after buying an additional 14,015 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in KeyCorp by 138.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 91,841 shares of the financial services provider’s stock worth $1,795,000 after buying an additional 53,291 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in KeyCorp in the 3rd quarter worth about $6,582,000. Institutional investors own 79.35% of the company’s stock.
Several research firms recently issued reports on KEY. UBS Group set a $23.00 price objective on KeyCorp and gave the stock a “buy” rating in a report on Monday, October 22nd. Mizuho lifted their price objective on KeyCorp from $25.00 to $25.50 and gave the stock an “overweight” rating in a report on Tuesday, July 24th. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, July 24th. Nomura lowered their target price on KeyCorp from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, October 19th. Finally, ValuEngine cut KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seventeen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $23.17.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.64 billion. KeyCorp had a return on equity of 12.56% and a net margin of 21.47%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. As a group, analysts expect that KeyCorp will post 1.73 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 27th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Monday, November 26th. KeyCorp’s payout ratio is presently 50.00%.
In other news, Chairman Beth E. Mooney purchased 10,000 shares of KeyCorp stock in a transaction dated Thursday, November 1st. The shares were purchased at an average price of $18.26 per share, with a total value of $182,600.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Donald R. Kimble purchased 5,000 shares of KeyCorp stock in a transaction dated Friday, November 2nd. The shares were purchased at an average cost of $18.55 per share, for a total transaction of $92,750.00. Following the transaction, the insider now owns 253,847 shares in the company, valued at approximately $4,708,861.85. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by insiders.
KeyCorp Company Profile
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, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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