Gulf International Bank UK Ltd Increases Holdings in KeyCorp (KEY)

Gulf International Bank UK Ltd raised its stake in KeyCorp (NYSE:KEY) by 13.1% during the third quarter, Holdings Channel reports. The fund owned 374,589 shares of the financial services provider’s stock after purchasing an additional 43,500 shares during the quarter. Gulf International Bank UK Ltd’s holdings in KeyCorp were worth $7,450,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KEY. Millennium Management LLC increased its holdings in KeyCorp by 87.4% in the 2nd quarter. Millennium Management LLC now owns 14,025,846 shares of the financial services provider’s stock valued at $274,065,000 after acquiring an additional 6,540,895 shares during the last quarter. Schroder Investment Management Group increased its holdings in KeyCorp by 418.2% in the 2nd quarter. Schroder Investment Management Group now owns 3,086,919 shares of the financial services provider’s stock valued at $60,504,000 after acquiring an additional 2,491,167 shares during the last quarter. Boston Partners increased its holdings in KeyCorp by 5.3% in the 2nd quarter. Boston Partners now owns 27,717,101 shares of the financial services provider’s stock valued at $541,592,000 after acquiring an additional 1,396,181 shares during the last quarter. Waddell & Reed Financial Inc. increased its holdings in KeyCorp by 97.0% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 2,679,773 shares of the financial services provider’s stock valued at $52,363,000 after acquiring an additional 1,319,673 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. increased its holdings in KeyCorp by 178.3% in the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 1,670,000 shares of the financial services provider’s stock valued at $32,632,000 after acquiring an additional 1,070,000 shares during the last quarter. Institutional investors own 80.19% of the company’s stock.

In related news, Director Carlton L. Highsmith sold 6,963 shares of KeyCorp stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $18.37, for a total transaction of $127,910.31. Following the completion of the transaction, the director now directly owns 68,088 shares of the company’s stock, valued at approximately $1,250,776.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Donald R. Kimble purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The shares were purchased at an average cost of $18.55 per share, with a total value of $92,750.00. Following the completion of 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. 0.65% of the stock is currently owned by insiders.

KEY stock opened at $18.89 on Friday. KeyCorp has a 12 month low of $16.48 and a 12 month high of $22.40. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.89 and a quick ratio of 0.88. The stock has a market cap of $19.35 billion, a P/E ratio of 11.47, a PEG ratio of 0.69 and a beta of 1.00.

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

KEY has been the topic of a number of research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $23.00 price target on shares of KeyCorp in a report on Friday, July 13th. Wedbush set a $23.00 price objective on shares of KeyCorp and gave the stock a “buy” rating in a research note on Thursday, September 13th. Nomura dropped their price objective on shares of KeyCorp from $25.00 to $22.00 and set a “buy” rating for the company 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 price objective for the company in a research note on Tuesday, July 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $24.05.

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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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