Verity & Verity LLC Buys 13,940 Shares of KeyCorp (KEY)

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Verity & Verity LLC grew its stake in shares of KeyCorp (NYSE:KEY) by 7.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 213,854 shares of the financial services provider’s stock after purchasing an additional 13,940 shares during the quarter. Verity & Verity LLC’s holdings in KeyCorp were worth $3,161,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Park National Corp OH boosted its holdings in shares of KeyCorp by 5.3% during the fourth quarter. Park National Corp OH now owns 28,840 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 1,455 shares during the period. New England Research & Management Inc. boosted its holdings in shares of KeyCorp by 3.7% during the fourth quarter. New England Research & Management Inc. now owns 50,245 shares of the financial services provider’s stock worth $743,000 after purchasing an additional 1,800 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of KeyCorp by 20.1% during the third quarter. Baird Financial Group Inc. now owns 16,394 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 2,742 shares during the period. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of KeyCorp by 1.9% during the third quarter. Nissay Asset Management Corp Japan ADV now owns 157,288 shares of the financial services provider’s stock worth $3,128,000 after purchasing an additional 2,885 shares during the period. Finally, Providence Capital Advisors LLC boosted its holdings in shares of KeyCorp by 4.2% during the third quarter. Providence Capital Advisors LLC now owns 84,149 shares of the financial services provider’s stock worth $1,674,000 after purchasing an additional 3,397 shares during the period. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

In other KeyCorp news, insider Donald R. Kimble bought 5,000 shares of the firm’s stock in a transaction on Friday, November 2nd. The stock was acquired at an average price of $18.55 per share, with a total value of $92,750.00. Following the completion of the purchase, the insider now owns 253,847 shares of the company’s stock, valued at $4,708,861.85. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Beth E. Mooney bought 10,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were acquired at an average cost of $18.26 per share, with a total value of $182,600.00. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company’s stock.

KEY has been the subject of a number of analyst reports. ValuEngine lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a report on Monday, October 8th. Standpoint Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Nomura dropped their target price on shares of KeyCorp from $25.00 to $22.00 and set a “buy” rating for the company in a report on Friday, October 19th. Finally, BMO Capital Markets dropped their target price on shares of KeyCorp from $24.00 to $21.00 and set an “outperform” rating for the company in a report on Friday, October 19th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $22.29.

KEY traded up $0.45 on Wednesday, hitting $16.76. The company had a trading volume of 996,410 shares, compared to its average volume of 10,324,614. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.89 and a quick ratio of 0.88. KeyCorp has a 52-week low of $13.65 and a 52-week high of $22.40. The firm has a market capitalization of $16.80 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.51 and a beta of 1.17.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 4th. This represents a $0.68 annualized dividend and a yield of 4.06%. KeyCorp’s dividend payout ratio (DPR) is presently 50.00%.

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KeyCorp 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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