Neuberger Berman Group LLC Sells 306,887 Shares of KeyCorp (KEY)

Neuberger Berman Group LLC lowered its position in shares of KeyCorp (NYSE:KEY) by 87.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,820 shares of the financial services provider’s stock after selling 306,887 shares during the quarter. Neuberger Berman Group LLC’s holdings in KeyCorp were worth $844,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KEY. Zions Bancorporation boosted its position in KeyCorp by 2,277.5% during the 3rd quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 5,466 shares during the last quarter. Bank of Nova Scotia Trust Co. acquired a new position in KeyCorp during the 3rd quarter worth approximately $132,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in KeyCorp during the 3rd quarter worth approximately $145,000. Sun Life Financial INC boosted its position in KeyCorp by 80,370.0% during the 2nd 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. Finally, AllSquare Wealth Management LLC acquired a new position in KeyCorp during the 3rd quarter worth approximately $173,000. 80.91% of the stock is owned by hedge funds and other institutional investors.

Shares of KeyCorp (KEY) opened at $20.17 on Wednesday. KeyCorp has a 12 month low of $16.28 and a 12 month high of $20.58. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $21,690.82, a price-to-earnings ratio of 17.69, a P/E/G ratio of 1.68 and a beta of 1.10.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the business earned $0.30 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. equities analysts expect that KeyCorp will post 1.37 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, November 28th were paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Monday, November 27th. This is a boost from KeyCorp’s previous quarterly dividend of $0.10. KeyCorp’s dividend payout ratio is 36.84%.

A number of research firms have weighed in on KEY. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.00 price target on shares of KeyCorp in a research report on Thursday, October 19th. CIBC reiterated a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. Barclays upped their price objective on KeyCorp from $19.00 to $23.00 and gave the stock an “underweight” rating in a research note on Tuesday. Citigroup upped their price objective on KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 9th. Finally, Stephens upgraded KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price objective on the stock in a research note on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $21.56.

In related news, General Counsel Paul N. Harris sold 2,758 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $18.54, for a total value of $51,133.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Andrew J. Paine III sold 46,854 shares of the stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total value of $869,610.24. Following the completion of the sale, the insider now owns 110,052 shares in the company, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,212 shares of company stock worth $1,060,508. 0.65% of the stock is owned by company insiders.

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KeyCorp Company 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)

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