Dividend Assets Capital LLC Reduces Stake in KeyCorp (KEY)

Dividend Assets Capital LLC decreased its stake in shares of KeyCorp (NYSE:KEY) by 16.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 37,597 shares of the financial services provider’s stock after selling 7,523 shares during the quarter. Dividend Assets Capital LLC’s holdings in KeyCorp were worth $748,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Boston Partners increased its holdings in shares of 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. Bessemer Group Inc. increased its holdings in shares of KeyCorp by 0.3% during the 2nd quarter. Bessemer Group Inc. now owns 14,351,596 shares of the financial services provider’s stock worth $280,430,000 after purchasing an additional 44,546 shares during the period. Millennium Management LLC increased its holdings in shares of 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. LSV Asset Management increased its holdings in shares of KeyCorp by 3.2% during the 2nd quarter. LSV Asset Management now owns 12,649,181 shares of the financial services provider’s stock worth $247,164,000 after purchasing an additional 389,200 shares during the period. Finally, FMR LLC increased its holdings in shares of KeyCorp by 3.3% during the 2nd quarter. FMR LLC now owns 12,512,784 shares of the financial services provider’s stock worth $244,500,000 after purchasing an additional 401,074 shares during the period. Institutional investors own 80.19% of the company’s stock.

NYSE KEY opened at $18.74 on Friday. The stock has a market capitalization of $19.23 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 0.69 and a beta of 1.00. KeyCorp has a twelve month low of $16.48 and a twelve 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.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.64 billion. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. As a group, research analysts anticipate that KeyCorp will post 1.73 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on KEY shares. Jefferies Financial Group restated 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 target price on shares of KeyCorp and gave the company a “buy” rating in a research note on Thursday, September 13th. Nomura lowered their target price on shares of KeyCorp from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, October 19th. Standpoint Research raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Finally, Zacks Investment Research raised shares of KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Tuesday, July 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eighteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $24.85.

In other news, Chairman Beth E. Mooney acquired 10,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were purchased at an average cost of $18.26 per share, with a total value of $182,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald R. Kimble acquired 5,000 shares of the firm’s stock in a transaction on Friday, November 2nd. The shares were purchased at an average cost of $18.55 per share, for a total transaction of $92,750.00. Following the completion of the purchase, the insider now directly owns 253,847 shares of the company’s stock, 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 corporate insiders.

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About KeyCorp

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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