Aviva PLC trimmed its holdings in shares of KeyCorp (NYSE:KEY) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 514,599 shares of the financial services provider’s stock after selling 21,850 shares during the period. Aviva PLC’s holdings in KeyCorp were worth $10,235,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in KeyCorp by 33.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 36,176,502 shares of the financial services provider’s stock worth $719,551,000 after purchasing an additional 9,086,291 shares during the period. Boston Partners boosted its position in KeyCorp by 5.3% during the 2nd quarter. Boston Partners now owns 27,717,101 shares of the financial services provider’s stock worth $541,592,000 after purchasing an additional 1,396,181 shares during the period. FMR LLC boosted its position in KeyCorp by 33.5% during the 3rd quarter. FMR LLC now owns 16,698,961 shares of the financial services provider’s stock worth $332,143,000 after purchasing an additional 4,186,177 shares during the period. Bessemer Group Inc. boosted its position in KeyCorp by 0.6% during the 3rd quarter. Bessemer Group Inc. now owns 14,437,154 shares of the financial services provider’s stock worth $287,156,000 after purchasing an additional 85,558 shares during the period. Finally, Millennium Management LLC boosted its position in KeyCorp by 87.4% during the 2nd quarter. Millennium Management LLC now owns 14,025,846 shares of the financial services provider’s stock worth $274,065,000 after purchasing an additional 6,540,895 shares during the period. 79.35% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of KeyCorp from a “buy” rating to a “hold” rating in a research report on Wednesday, August 22nd. Wedbush set a $23.00 price objective on shares of KeyCorp and gave the stock a “buy” rating in a report on Thursday, September 13th. ValuEngine lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Scotiabank reiterated a “hold” rating on shares of KeyCorp in a report on Friday, November 9th. Finally, Raymond James reiterated a “buy” rating on shares of KeyCorp in a report on Thursday, November 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seventeen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $23.17.
Shares of KEY stock opened at $18.34 on Monday. KeyCorp has a 12 month low of $16.48 and a 12 month high of $22.40. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $18.97 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.68 and a beta of 1.00.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.64 billion. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 EPS. Sell-side analysts forecast that KeyCorp will post 1.73 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 27th will be paid a $0.17 dividend. The ex-dividend date is Monday, November 26th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.71%. KeyCorp’s dividend payout ratio (DPR) is presently 50.00%.
In related news, Chairman Beth E. Mooney bought 10,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The shares were acquired at an average price of $18.26 per share, for a total transaction of $182,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Donald R. Kimble bought 5,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was bought at an average price of $18.55 per share, for a total transaction of $92,750.00. Following the purchase, 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. Corporate insiders own 0.65% of the company’s stock.
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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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