KeyCorp (KEY) Stake Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in KeyCorp (NYSE:KEY) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,673,339 shares of the financial services provider’s stock after selling 58,957 shares during the period. Principal Financial Group Inc. owned about 0.16% of KeyCorp worth $31,493,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of KEY. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of KeyCorp in the third quarter valued at about $145,000. Sun Life Financial INC raised 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 valued at $151,000 after buying an additional 8,037 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of KeyCorp in the second quarter valued at about $174,000. Equity Investment Corp Acquisition Inc raised its holdings in shares of KeyCorp by 3.9% in the second quarter. Equity Investment Corp Acquisition Inc now owns 10,465 shares of the financial services provider’s stock valued at $196,000 after buying an additional 390 shares during the last quarter. Finally, Courier Capital LLC bought a new position in shares of KeyCorp in the second quarter valued at about $213,000. Institutional investors own 82.97% of the company’s stock.

KEY has been the subject of a number of research analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $22.00 price target on shares of KeyCorp in a report on Wednesday, September 27th. BMO Capital Markets reaffirmed a “buy” rating and issued a $22.00 price target on shares of KeyCorp in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of KeyCorp in a report on Friday, October 20th. Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a report on Friday, July 28th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. KeyCorp currently has an average rating of “Hold” and a consensus target price of $20.82.

ILLEGAL ACTIVITY WARNING: This piece of content was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another website, it was stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/11/19/keycorp-key-stake-lowered-by-principal-financial-group-inc.html.

In other news, insider Andrew J. Paine III sold 46,854 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total transaction of $869,610.24. Following the sale, the insider now owns 110,052 shares in the company, valued at approximately $2,042,565.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 7,600 shares of the company’s 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 sale, the director now owns 68,725 shares in the company, valued at approximately $1,263,852.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,212 shares of company stock valued at $1,060,508. Insiders own 0.65% of the company’s stock.

KeyCorp (NYSE KEY) opened at $18.31 on Friday. KeyCorp has a 12-month low of $16.28 and a 12-month high of $19.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. The firm has a market capitalization of $19,690.57, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 1.67 and a beta of 1.10.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm posted $0.30 EPS. The business’s revenue was up 13.7% on a year-over-year basis. sell-side analysts expect that KeyCorp will post 1.37 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders 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 dividend on an annualized basis and a yield of 2.29%. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. KeyCorp’s dividend payout ratio is 33.33%.

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.

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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.

Leave a Reply