Smithfield Trust Co. raised its position in shares of KeyCorp (NYSE:KEY) by 89.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,537 shares of the financial services provider’s stock after acquiring an additional 4,040 shares during the period. Smithfield Trust Co.’s holdings in KeyCorp were worth $170,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of KEY. DnB Asset Management AS increased its stake in KeyCorp by 4.1% during the second quarter. DnB Asset Management AS now owns 129,387 shares of the financial services provider’s stock valued at $2,528,000 after acquiring an additional 5,100 shares during the period. IFM Investors Pty Ltd increased its stake in KeyCorp by 34.6% during the second quarter. IFM Investors Pty Ltd now owns 57,477 shares of the financial services provider’s stock valued at $1,123,000 after acquiring an additional 14,779 shares during the period. CENTRAL TRUST Co increased its stake in KeyCorp by 358.3% during the second quarter. CENTRAL TRUST Co now owns 17,595 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 13,756 shares during the period. NN Investment Partners Holdings N.V. boosted its holdings in KeyCorp by 4.6% during the second quarter. NN Investment Partners Holdings N.V. now owns 1,084,333 shares of the financial services provider’s stock valued at $21,188,000 after purchasing an additional 47,770 shares in the last quarter. Finally, FormulaFolio Investments LLC acquired a new stake in KeyCorp during the second quarter valued at approximately $721,000. Institutional investors and hedge funds own 80.19% of the company’s stock.
KEY has been the topic of a number of recent research reports. Zacks Investment Research downgraded KeyCorp from a “buy” rating to a “hold” rating in a report on Wednesday, August 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $23.00 price objective on shares of KeyCorp in a report on Friday, July 13th. Wedbush set a $23.00 price objective on KeyCorp and gave the company a “buy” rating in a report on Thursday, September 13th. Standpoint Research raised KeyCorp from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Finally, BMO Capital Markets decreased their price objective on KeyCorp from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating to the company. KeyCorp has a consensus rating of “Buy” and a consensus target price of $23.39.
Shares of KEY opened at $18.89 on Friday. The company has a market capitalization of $19.35 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 0.69 and a beta of 1.00. 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 has a one year low of $16.48 and a one year high of $22.40.
KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 18th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.64 billion. KeyCorp had a return on equity of 12.56% and a net margin of 21.47%. KeyCorp’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. On average, sell-side analysts expect that KeyCorp will post 1.73 EPS for the current fiscal year.
In other news, insider Douglas M. Schosser sold 6,048 shares of the business’s 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 transaction, the insider now directly owns 23,164 shares of the company’s stock, valued at approximately $497,794.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Beth E. Mooney bought 10,000 shares of KeyCorp stock in a transaction dated Thursday, November 1st. The stock was acquired at an average cost of $18.26 per share, for a total transaction of $182,600.00. The disclosure for this purchase can be found here. 0.65% of the stock is owned by insiders.
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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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