KeyCorp (KEY) Position Cut by MARSHALL WACE ASIA Ltd
MARSHALL WACE ASIA Ltd cut its stake in KeyCorp (NYSE:KEY) by 28.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,978,531 shares of the financial services provider’s stock after selling 1,164,920 shares during the period. KeyCorp accounts for 2.0% of MARSHALL WACE ASIA Ltd’s portfolio, making the stock its 22nd largest position. MARSHALL WACE ASIA Ltd owned approximately 0.29% of KeyCorp worth $59,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its holdings in KeyCorp by 8,462.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,165 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 6,093 shares in the last quarter. Reilly Financial Advisors LLC raised its holdings in KeyCorp by 408.3% in the third quarter. Reilly Financial Advisors LLC now owns 6,354 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 5,104 shares in the last quarter. Zions Bancorporation acquired a new stake in KeyCorp in the third quarter valued at $138,000. Smithfield Trust Co. raised its holdings in KeyCorp by 89.8% in the third quarter. Smithfield Trust Co. now owns 8,537 shares of the financial services provider’s stock valued at $170,000 after acquiring an additional 4,040 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of KeyCorp during the second quarter worth $173,000. 79.66% of the stock is currently owned by hedge funds and other institutional investors.
In other KeyCorp news, Chairman Beth E. Mooney acquired 10,000 shares of KeyCorp stock in a transaction dated Thursday, November 1st. The stock was bought at an average price of $18.26 per share, for a total transaction of $182,600.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Carlton L. Highsmith sold 6,963 shares of the firm’s 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 transaction, the director now owns 68,088 shares of the company’s stock, valued at approximately $1,250,776.56. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.
KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.64 billion. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. KeyCorp’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. On average, equities analysts expect that KeyCorp will post 1.73 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 27th will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, November 26th. This represents a $0.68 dividend on an annualized basis and a yield of 3.97%. KeyCorp’s dividend payout ratio is presently 50.00%.
KEY has been the topic of a number of research reports. Zacks Investment Research cut shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Wednesday, August 22nd. Nomura restated a “neutral” rating and set a $18.00 price target (down previously from $20.00) on shares of KeyCorp in a research report on Tuesday, November 13th. BMO Capital Markets lowered their price target on shares of KeyCorp from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Wedbush set a $23.00 price target on shares of KeyCorp and gave the stock a “buy” rating in a research report on Thursday, September 13th. Finally, Citigroup upped their price target on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $23.00.
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, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
Featured Story: Dollar Cost Averaging
Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.