KeyCorp (KEY) Stake Boosted by Heritage Investors Management Corp

Heritage Investors Management Corp increased its holdings in shares of KeyCorp (NYSE:KEY) by 15.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,415 shares of the financial services provider’s stock after purchasing an additional 9,700 shares during the period. Heritage Investors Management Corp’s holdings in KeyCorp were worth $1,440,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Kiley Juergens Wealth Management LLC bought a new position in shares of KeyCorp during the 2nd quarter valued at about $113,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of KeyCorp by 8,462.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,165 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 6,093 shares in the last quarter. Reilly Financial Advisors LLC lifted its holdings in shares of KeyCorp by 408.3% during the 3rd quarter. Reilly Financial Advisors LLC now owns 6,354 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 5,104 shares in the last quarter. Zions Bancorporation bought a new position in shares of KeyCorp during the 3rd quarter valued at about $138,000. Finally, Edge Wealth Management LLC bought a new position in shares of KeyCorp during the 2nd quarter valued at about $161,000. Institutional investors and hedge funds own 80.19% of the company’s stock.

KEY has been the topic of several recent analyst reports. Wedbush set a $23.00 price objective on KeyCorp and gave the company a “buy” rating in a report on Thursday, September 13th. Piper Jaffray Companies reiterated a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a report on Monday, October 22nd. Standpoint Research upgraded KeyCorp from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Vining Sparks reiterated a “buy” rating and set a $25.00 price objective on shares of KeyCorp in a report on Thursday, July 19th. Finally, Zacks Investment Research cut KeyCorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $24.05.

In related news, insider Douglas M. Schosser sold 6,048 shares of KeyCorp stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $21.49, for a total value of $129,971.52. Following the sale, the insider now owns 23,164 shares of the company’s stock, valued at approximately $497,794.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donald R. Kimble bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was 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. 0.65% of the stock is currently owned by company insiders.

Shares of KeyCorp stock opened at $18.89 on Friday. KeyCorp has a 52-week low of $16.48 and a 52-week high of $22.40. The company has a market capitalization of $19.35 billion, a P/E ratio of 13.89, a PEG ratio of 0.69 and a beta of 1.00. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.01.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. KeyCorp had a return on equity of 12.56% and a net margin of 21.47%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the firm earned $0.32 EPS. KeyCorp’s revenue for the quarter was up 3.1% compared to the same quarter last year. Research analysts forecast that KeyCorp will post 1.73 earnings per share for the current year.

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KeyCorp 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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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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