Russell Investments Group Ltd. trimmed its stake in KeyCorp (NYSE:KEY) by 4.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,860,628 shares of the financial services provider’s stock after selling 262,077 shares during the period. Russell Investments Group Ltd. owned about 0.54% of KeyCorp worth $110,295,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Boston Partners purchased a new stake in KeyCorp during the 3rd quarter worth approximately $356,111,000. Janus Henderson Group PLC increased its stake in KeyCorp by 6,189.4% during the 2nd quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock worth $170,679,000 after buying an additional 8,962,913 shares during the period. Vanguard Group Inc. increased its stake in KeyCorp by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after buying an additional 4,230,390 shares during the period. Samlyn Capital LLC purchased a new stake in KeyCorp during the 2nd quarter worth approximately $57,111,000. Finally, Victory Capital Management Inc. increased its stake in KeyCorp by 561.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,954,024 shares of the financial services provider’s stock worth $55,358,000 after buying an additional 2,507,628 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.
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Shares of KeyCorp (NYSE KEY) traded up $0.07 during trading hours on Thursday, reaching $18.21. 2,380,000 shares of the company were exchanged, compared to its average volume of 12,130,000. The firm has a market cap of $19,580.00, a PE ratio of 13.83, a P/E/G ratio of 1.66 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. KeyCorp has a 12-month low of $16.28 and a 12-month high of $19.53.
KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. KeyCorp’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS. analysts anticipate that KeyCorp will post 1.38 earnings per share for the current fiscal year.
In related news, General Counsel Paul N. Harris sold 2,758 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total transaction of $51,133.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew J. Paine III sold 46,854 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total transaction of $869,610.24. Following the sale, the insider now owns 110,052 shares of the company’s stock, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,212 shares of company stock valued at $1,060,508. 0.65% of the stock is owned by company insiders.
KEY has been the topic of several recent research reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $20.50 target price on shares of KeyCorp in a research note on Friday, July 21st. DA Davidson raised shares of KeyCorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $21.00 in a research note on Thursday, July 20th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $21.00 target price on shares of KeyCorp in a research note on Friday, July 28th. BMO Capital Markets reaffirmed a “buy” rating and set a $22.00 target price on shares of KeyCorp in a research note on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 target price on shares of KeyCorp in a research note on Thursday, October 19th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. KeyCorp presently has a consensus rating of “Hold” and an average price target of $20.82.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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