Joseph P. Lucia & Associates LLC Purchases New Stake in KeyCorp (NYSE:KEY)

Joseph P. Lucia & Associates LLC purchased a new stake in KeyCorp (NYSE:KEY) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,940 shares of the financial services provider’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also bought and sold shares of KEY. Wealthfront Advisers LLC grew its holdings in shares of KeyCorp by 28.1% during the 3rd quarter. Wealthfront Advisers LLC now owns 94,216 shares of the financial services provider’s stock worth $1,681,000 after purchasing an additional 20,677 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in KeyCorp in the third quarter valued at about $250,000. Ferguson Wellman Capital Management Inc. boosted its stake in KeyCorp by 1.1% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 858,526 shares of the financial services provider’s stock valued at $15,316,000 after buying an additional 9,510 shares in the last quarter. NuWave Investment Management LLC boosted its stake in KeyCorp by 3,981.4% in the third quarter. NuWave Investment Management LLC now owns 13,836 shares of the financial services provider’s stock valued at $243,000 after buying an additional 13,497 shares in the last quarter. Finally, Nwam LLC boosted its stake in KeyCorp by 2.3% in the third quarter. Nwam LLC now owns 31,674 shares of the financial services provider’s stock valued at $565,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 80.08% of the company’s stock.

In other news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew J. Paine III sold 99,999 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $18.26, for a total value of $1,825,981.74. Following the transaction, the insider now owns 85,469 shares of the company’s stock, valued at $1,560,663.94. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

KeyCorp stock opened at $17.69 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $17.65 billion, a PE ratio of 10.23, a P/E/G ratio of 3.60 and a beta of 1.29. KeyCorp has a 12 month low of $13.65 and a 12 month high of $18.96. The stock has a 50-day moving average price of $17.38 and a two-hundred day moving average price of $17.11.

KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $0.44 EPS for the quarter, meeting the consensus estimate of $0.44. KeyCorp had a return on equity of 12.82% and a net margin of 23.15%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the company earned $0.44 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, analysts predict that KeyCorp will post 1.78 earnings per share for the current fiscal year.

Several analysts recently weighed in on the company. Zacks Investment Research lowered KeyCorp from a “hold” rating to a “sell” rating and set a $20.00 price objective on the stock. in a research note on Monday, July 8th. Piper Jaffray Companies set a $19.00 price objective on KeyCorp and gave the company a “buy” rating in a research note on Wednesday, September 4th. Nomura set a $18.00 price objective on KeyCorp and gave the company a “hold” rating in a research note on Friday, July 26th. Robert W. Baird raised KeyCorp from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $18.00 to $19.00 in a research note on Friday, June 21st. Finally, BMO Capital Markets raised their price objective on KeyCorp from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $23.58.

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.

Further Reading: Rule of 72

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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