KeyCorp (KEY) Position Lifted by Connable Office Inc.

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Connable Office Inc. lifted its stake in KeyCorp (NYSE:KEY) by 909.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 104,687 shares of the financial services provider’s stock after acquiring an additional 94,316 shares during the period. Connable Office Inc.’s holdings in KeyCorp were worth $2,082,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Kiley Juergens Wealth Management LLC bought a new position in shares of KeyCorp in the 2nd quarter valued at approximately $113,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of KeyCorp by 8,462.5% in the 2nd 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 stake in shares of KeyCorp by 408.3% in the 3rd 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 bought a new position in shares of KeyCorp in the 3rd quarter valued at approximately $138,000. Finally, Edge Wealth Management LLC bought a new position in shares of KeyCorp in the 2nd quarter valued at approximately $161,000. 80.19% of the stock is currently owned by institutional investors and hedge funds.

Shares of KEY stock opened at $18.74 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $19.23 billion, a P/E ratio of 13.78, a P/E/G ratio of 0.69 and a beta of 1.00. KeyCorp has a one year low of $16.48 and a one year high of $22.40.

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

In other KeyCorp news, Chairman Beth E. Mooney acquired 10,000 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was purchased at an average price of $18.26 per share, for a total transaction of $182,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas M. Schosser sold 6,048 shares of KeyCorp stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $21.49, for a total value of $129,971.52. Following the completion of the transaction, the insider now owns 23,164 shares of the company’s stock, valued at approximately $497,794.36. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

A number of research analysts recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a $23.00 price objective on shares of KeyCorp in a research note on Friday, July 13th. Scotiabank reissued a “hold” rating and issued a $36.00 price objective on shares of KeyCorp in a research note on Friday. Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Tuesday, July 17th. ValuEngine downgraded KeyCorp from a “hold” rating to a “sell” rating in a research note on Saturday, July 14th. Finally, Nomura cut their price objective on KeyCorp from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, October 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $24.85.

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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.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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