Asset Management One Co. Ltd. Has $34.69 Million Stake in KeyCorp (KEY)

Asset Management One Co. Ltd. reduced its position in KeyCorp (NYSE:KEY) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,844,785 shares of the financial services provider’s stock after selling 31,816 shares during the period. Asset Management One Co. Ltd. owned about 0.17% of KeyCorp worth $34,686,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in KEY. Vanguard Group Inc. grew its position in KeyCorp by 3.9% during the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock valued at $2,087,987,000 after purchasing an additional 4,230,390 shares in the last quarter. BlackRock Inc. grew its position in KeyCorp by 2.7% during the second quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock valued at $1,624,654,000 after purchasing an additional 2,280,450 shares in the last quarter. Boston Partners purchased a new position in KeyCorp during the third quarter valued at approximately $356,111,000. Northern Trust Corp grew its position in KeyCorp by 1.9% during the second quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock valued at $232,925,000 after purchasing an additional 231,558 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in KeyCorp by 0.5% during the third quarter. Bessemer Group Inc. now owns 12,065,873 shares of the financial services provider’s stock valued at $227,079,000 after purchasing an additional 64,958 shares in the last quarter. 81.20% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp (KEY) traded up $0.15 during mid-day trading on Friday, reaching $19.89. 10,312,555 shares of the company’s stock traded hands, compared to its average volume of 11,010,615. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market capitalization of $21,389.71, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 1.81 and a beta of 1.10. KeyCorp has a 12 month low of $16.28 and a 12 month high of $19.93.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from KeyCorp’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, November 27th. KeyCorp’s payout ratio is presently 36.84%.

In other news, Director Elizabeth R. Gile acquired 1,374 shares of KeyCorp stock in a transaction dated Wednesday, November 22nd. The stock was acquired at an average cost of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the purchase, the director now owns 24,989 shares of the company’s stock, valued at $455,549.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew J. Paine III sold 46,854 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 110,052 shares of the company’s stock, valued at $2,042,565.12. The disclosure for this sale can be found here. Insiders sold 57,212 shares of company stock valued at $1,060,508 over the last 90 days. 0.65% of the stock is owned by corporate insiders.

KEY has been the topic of a number of research analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $22.00 price objective on shares of KeyCorp in a research report on Wednesday, September 27th. ValuEngine raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Oppenheimer reaffirmed a “hold” rating on shares of KeyCorp in a research report on Friday, October 20th. Zacks Investment Research downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $18.00 price objective on shares of KeyCorp in a research report on Friday, October 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. KeyCorp currently has an average rating of “Hold” and an average price target of $21.09.

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About KeyCorp

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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