Prospector Partners LLC Decreases Position in KeyCorp (KEY)

Prospector Partners LLC cut its holdings in KeyCorp (NYSE:KEY) by 1.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 595,400 shares of the financial services provider’s stock after selling 10,000 shares during the period. KeyCorp makes up approximately 1.7% of Prospector Partners LLC’s investment portfolio, making the stock its 14th largest position. Prospector Partners LLC owned about 0.06% of KeyCorp worth $11,205,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in KEY. Harel Insurance Investments & Financial Services Ltd. bought a new stake in KeyCorp during the third quarter worth about $145,000. Sun Life Financial INC lifted its holdings in shares of KeyCorp by 80,370.0% in the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 8,037 shares during the last quarter. AllSquare Wealth Management LLC bought a new position in shares of KeyCorp in the third quarter worth about $173,000. Quantbot Technologies LP bought a new position in KeyCorp in the 2nd quarter valued at approximately $174,000. Finally, Connable Office Inc. bought a new position in KeyCorp in the 3rd quarter valued at approximately $195,000. Institutional investors and hedge funds own 81.20% of the company’s stock.

In related news, Director Elizabeth R. Gile bought 1,374 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was purchased at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the acquisition, the director now owns 24,989 shares in the company, valued at $455,549.47. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 7,600 shares of KeyCorp stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $18.39, for a total value of $139,764.00. Following the completion of the transaction, the director now owns 68,725 shares of the company’s stock, valued at approximately $1,263,852.75. The disclosure for this sale can be found here. Insiders have sold a total of 57,212 shares of company stock valued at $1,060,508 in the last 90 days. 0.65% of the stock is currently owned by company insiders.

KeyCorp (NYSE:KEY) traded up $0.05 during midday trading on Thursday, hitting $19.38. The stock had a trading volume of 10,170,200 shares, compared to its average volume of 10,996,497. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.90 and a quick ratio of 0.89. KeyCorp has a 1 year low of $16.28 and a 1 year high of $19.93. The company has a market capitalization of $20,787.48, a P/E ratio of 14.64, a P/E/G ratio of 1.76 and a beta of 1.10.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. analysts forecast that KeyCorp will post 1.37 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be given a dividend of $0.105 per share. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.42 annualized dividend and a dividend yield of 2.17%. This is a boost from KeyCorp’s previous quarterly dividend of $0.10. KeyCorp’s dividend payout ratio (DPR) is currently 36.84%.

KEY has been the subject of a number of recent analyst reports. Wells Fargo & Company initiated coverage on shares of KeyCorp in a research report on Wednesday, August 9th. They set a “market perform” rating and a $19.00 target price for the company. Sanford C. Bernstein raised shares of KeyCorp from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $21.00 to $22.00 in a research report on Thursday, September 14th. Zacks Investment Research downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. Robert W. Baird restated a “hold” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Friday, October 6th. Finally, Citigroup raised their price objective on KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 9th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $21.09.

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KeyCorp Profile

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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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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