Flippin Bruce & Porter Inc. Sells 13,400 Shares of KeyCorp (NYSE:KEY)

Flippin Bruce & Porter Inc. lowered its holdings in shares of KeyCorp (NYSE:KEY) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 636,807 shares of the financial services provider’s stock after selling 13,400 shares during the period. KeyCorp comprises about 2.0% of Flippin Bruce & Porter Inc.’s investment portfolio, making the stock its 17th biggest position. Flippin Bruce & Porter Inc. owned 0.06% of KeyCorp worth $11,361,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Montag A & Associates Inc. grew its holdings in shares of KeyCorp by 39.5% during the 3rd quarter. Montag A & Associates Inc. now owns 91,999 shares of the financial services provider’s stock valued at $1,641,000 after purchasing an additional 26,044 shares during the last quarter. SG Americas Securities LLC boosted its position in KeyCorp by 262.9% during the 3rd quarter. SG Americas Securities LLC now owns 524,616 shares of the financial services provider’s stock valued at $9,359,000 after buying an additional 380,053 shares during the period. Kahn Brothers Group Inc. DE purchased a new stake in KeyCorp during the 3rd quarter valued at $220,000. Daiwa Securities Group Inc. boosted its position in KeyCorp by 14.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 44,583 shares of the financial services provider’s stock valued at $795,000 after buying an additional 5,499 shares during the period. Finally, First National Bank of Omaha boosted its position in KeyCorp by 258.3% during the 3rd quarter. First National Bank of Omaha now owns 594,599 shares of the financial services provider’s stock valued at $10,608,000 after buying an additional 428,647 shares during the period. 80.01% of the stock is currently owned by institutional investors.

In other news, General Counsel Paul N. Harris sold 173,777 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $18.50, for a total value of $3,214,874.50. Following the completion of the sale, the general counsel now directly owns 78,811 shares of the company’s stock, valued at approximately $1,458,003.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Amy G. Brady sold 10,806 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $18.02, for a total transaction of $194,724.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 657,271 shares of company stock valued at $12,049,355. Corporate insiders own 0.08% of the company’s stock.

Shares of NYSE:KEY traded up $0.06 on Friday, hitting $19.36. The company had a trading volume of 6,438,777 shares, compared to its average volume of 10,636,943. The firm’s 50-day simple moving average is $17.90 and its two-hundred day simple moving average is $17.31. KeyCorp has a 1 year low of $13.65 and a 1 year high of $19.48. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $18.90 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 2.62 and a beta of 1.29.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 17th. The financial services provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. KeyCorp had a net margin of 21.93% and a return on equity of 12.71%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the company posted $0.45 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts anticipate that KeyCorp will post 1.8 EPS for the current year.

KEY has been the subject of several analyst reports. Wedbush increased their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Deutsche Bank cut shares of KeyCorp from a “buy” rating to a “hold” rating and set a $19.00 price target for the company. in a research report on Friday, October 25th. ValuEngine cut shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 16th. Piper Jaffray Companies set a $19.00 price target on shares of KeyCorp and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.89.

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.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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