Montag A & Associates Inc. boosted its holdings in KeyCorp (NYSE:KEY) by 39.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,999 shares of the financial services provider’s stock after buying an additional 26,044 shares during the quarter. Montag A & Associates Inc.’s holdings in KeyCorp were worth $1,641,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Joseph P. Lucia & Associates LLC bought a new position in KeyCorp in the 3rd quarter valued at approximately $35,000. Cordasco Financial Network bought a new position in KeyCorp in the 3rd quarter valued at approximately $43,000. Manchester Financial Inc. bought a new position in KeyCorp in the 2nd quarter valued at approximately $46,000. Coastal Capital Group Inc. bought a new position in KeyCorp in the 2nd quarter valued at approximately $50,000. Finally, CSat Investment Advisory L.P. raised its holdings in KeyCorp by 202.9% in the 2nd quarter. CSat Investment Advisory L.P. now owns 3,087 shares of the financial services provider’s stock valued at $55,000 after buying an additional 2,068 shares during the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.
A number of research analysts recently issued reports on the stock. Piper Jaffray Companies set a $19.00 price objective on shares of KeyCorp and gave the company a “buy” rating in a report on Wednesday, September 4th. Wedbush raised their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets dropped their price objective on shares of KeyCorp from $36.00 to $34.00 and set a “market perform” rating for the company in a report on Wednesday. Deutsche Bank lowered shares of KeyCorp from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a report on Friday, October 25th. Finally, Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $19.00 price target for the company. in a report on Wednesday. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $24.89.
In other news, Director Carlton L. Highsmith sold 9,515 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $18.07, for a total transaction of $171,936.05. Following the completion of the sale, the director now owns 70,640 shares of the company’s stock, valued at approximately $1,276,464.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Amy G. Brady sold 10,806 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $18.02, for a total transaction of $194,724.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 657,271 shares of company stock valued at $12,049,355. Insiders own 0.08% of the company’s stock.
KeyCorp stock traded up $0.06 during mid-day trading on Friday, hitting $19.36. 6,369,510 shares of the stock were exchanged, compared to its average volume of 10,636,943. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.95. KeyCorp has a 12 month low of $13.65 and a 12 month high of $19.48. The firm’s fifty day simple moving average is $17.90 and its two-hundred day simple moving average is $17.31. The stock has a market capitalization of $18.90 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 2.62 and a beta of 1.29.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. KeyCorp had a net margin of 21.93% and a return on equity of 12.71%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 EPS. As a group, analysts forecast that KeyCorp will post 1.8 earnings per share for the current fiscal year.
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.
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