Gulf International Bank UK Ltd increased its stake in KeyCorp (NYSE:KEY) by 13.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 374,589 shares of the financial services provider’s stock after purchasing an additional 43,500 shares during the quarter. Gulf International Bank UK Ltd’s holdings in KeyCorp were worth $7,450,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Kiley Juergens Wealth Management LLC purchased a new stake in KeyCorp in the second quarter worth approximately $113,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in KeyCorp by 8,462.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,165 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 6,093 shares during the last quarter. Reilly Financial Advisors LLC boosted its holdings in KeyCorp by 408.3% in the third quarter. Reilly Financial Advisors LLC now owns 6,354 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 5,104 shares during the last quarter. Zions Bancorporation purchased a new stake in KeyCorp in the third quarter worth approximately $138,000. Finally, Edge Wealth Management LLC purchased a new stake in KeyCorp in the second quarter worth approximately $161,000. Institutional investors own 80.19% of the company’s stock.
Several brokerages recently issued reports on KEY. Scotiabank restated a “hold” rating and issued a $36.00 target price on shares of KeyCorp in a report on Friday. ValuEngine cut shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Saturday, July 14th. Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, July 17th. UBS Group set a $23.00 target price on shares of KeyCorp and gave the stock a “buy” rating in a report on Monday, October 22nd. Finally, Mizuho raised their target price on shares of KeyCorp from $25.00 to $25.50 and gave the stock an “overweight” rating in a report on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $24.05.
In other news, insider Douglas M. Schosser sold 6,048 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $21.49, for a total transaction of $129,971.52. Following the sale, the insider now directly owns 23,164 shares in the company, valued at approximately $497,794.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald R. Kimble acquired 5,000 shares of the firm’s stock in a transaction dated Friday, November 2nd. The shares were purchased at an average price of $18.55 per share, for a total transaction of $92,750.00. Following the completion of the transaction, the insider now directly owns 253,847 shares in the company, valued at $4,708,861.85. The disclosure for this purchase can be found here. 0.65% of the stock is owned by company insiders.
Shares of KeyCorp stock opened at $18.89 on Friday. The firm has a market cap of $19.35 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 0.69 and a beta of 1.00. KeyCorp has a 1-year low of $16.48 and a 1-year high of $22.40. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.88 and a current ratio of 0.89.
KeyCorp (NYSE:KEY) last issued its quarterly 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 net margin of 21.47% and a return on equity of 12.56%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. As a group, equities analysts expect that KeyCorp will post 1.73 EPS for the current fiscal year.
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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