CI Investments Inc. increased its stake in KeyCorp (NYSE:KEY) by 19.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 537,070 shares of the financial services provider’s stock after acquiring an additional 88,120 shares during the period. CI Investments Inc.’s holdings in KeyCorp were worth $10,108,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. New York State Common Retirement Fund boosted its holdings in shares of KeyCorp by 2.0% in the third quarter. New York State Common Retirement Fund now owns 2,521,792 shares of the financial services provider’s stock valued at $47,460,000 after acquiring an additional 49,800 shares in the last quarter. AllSquare Wealth Management LLC bought a new stake in KeyCorp during the third quarter worth approximately $173,000. Tower Bridge Advisors boosted its holdings in KeyCorp by 7.8% during the third quarter. Tower Bridge Advisors now owns 708,631 shares of the financial services provider’s stock worth $13,336,000 after buying an additional 51,145 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in KeyCorp by 17.0% during the third quarter. Retirement Systems of Alabama now owns 2,033,527 shares of the financial services provider’s stock worth $38,271,000 after buying an additional 296,177 shares in the last quarter. Finally, Meridian Management Co. bought a new stake in KeyCorp during the third quarter worth approximately $1,430,000. Institutional investors and hedge funds own 82.97% of the company’s stock.
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KeyCorp (KEY) traded up $0.28 during mid-day trading on Tuesday, reaching $17.92. 8,339,900 shares of the company’s stock were exchanged, compared to its average volume of 10,931,594. KeyCorp has a 12 month low of $16.28 and a 12 month high of $19.53. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06. The stock has a market cap of $18,970.05, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 13.7% compared to the same quarter last year. analysts expect that KeyCorp will post 1.38 EPS for the current fiscal year.
In other news, Director Carlton L. Highsmith sold 7,600 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $18.39, for a total transaction of $139,764.00. Following the transaction, the director now owns 68,725 shares in the company, valued at approximately $1,263,852.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Paul N. Harris sold 2,758 shares of the firm’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total transaction of $51,133.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,212 shares of company stock valued at $1,060,508. Insiders own 0.65% of the company’s stock.
A number of analysts recently weighed in on KEY shares. BidaskClub cut shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. DA Davidson upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $20.00 to $21.00 in a report on Thursday, July 20th. Piper Jaffray Companies restated a “buy” rating and set a $20.50 target price on shares of KeyCorp in a report on Friday, July 21st. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of KeyCorp in a report on Saturday, July 22nd. Finally, BMO Capital Markets restated a “buy” rating and set a $22.00 target price on shares of KeyCorp in a report on Thursday, July 27th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $20.82.
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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