KeyCorp (KEY, Financial), with assets of over $170 billion, is a prominent Ohio-based financial institution. Predominantly concentrated in Ohio and New York, KeyCorp's bank footprint spans 16 states. The company primarily serves middle-market commercial clients through a hybrid community/corporate bank model.
KeyCorp's Ownership and Performance Overview
As of the latest available data, KeyCorp (KEY, Financial) has an outstanding share count of 935.92 million. Institutional ownership stands at 853.51 million shares, making up 91.2% of the total shares. Meanwhile, insiders hold 9.20 million shares, accounting for 0.98% of the total share count.
Over the past week, KeyCorp's stock value has experienced a decline of about 3.46%. As of Oct 18 2023, the stock fell by 1.81%, contrasting with its three-month return of 3.97%. A closer look reveals fluctuations in its market cap, which dropped to $8.65 billion in the most recent quarter from $11.71 billion in the preceding one. This volatility has sparked keen interest in the company's ownership trends.
Institutional Ownership and Key Players
KeyCorp's institutional ownership history reveals the levels of trust and confidence that major players have in the company's future. As of 2023-09-30, KeyCorp's institutional ownership level is 91.2%, up from institutional ownership of 90.46% as of 2023-06-30 and up from institutional ownership of 62.35% from a year ago.
Among the most significant stakeholders, the top fund managers owning chunks of KeyCorp's stock are Richard Pzena (Trades, Portfolio), Bruce Berkowitz (Trades, Portfolio), and HOTCHKIS & WILEY (Trades, Portfolio), with 0.18%, 0.03%, and 0.03% of shares outstanding respectively.
Delving into Earnings: Past and Future
Financial performance remains a cornerstone of investment decisions. Over the past three years, KeyCorp's Ebitda growth averaged 0% per year, which is worse than 0% of 39 companies in the Banks industry. This growth extends to the five-year marker, with a growth of 0%.
Looking forward, the estimated earnings growth for KeyCorp is 1.3% per year, lower than the earnings growth of 6% during the past three years. This projection is based on a combination of historical data and industry trends, factoring in company-specific elements, broader economic conditions, and anticipated market dynamics.
Insider Ownership and Activities
Insider ownership offers insights into the convictions of the company's board directors and C-level employees. KeyCorp's insider ownership is approximately 0.98% as of 2023-08-31, compared to insider ownership of 0.93% from a year ago, reflecting the increased faith of those intimately familiar with the company's operations.
During the past three months, KeyCorp had 1 insider buy transactions: Devina A Rankin, Director, bought 10,000 shares on 2023-08-10.
Next Steps
In the ever-evolving realm of stocks, understanding the nuances of ownership and earnings is critical. KeyCorp's recent dip is a case study in how major players react to market shifts, and their movements offer crucial insights for potential investors. As always, a holistic view, combining both past performance and future projections, remains key to sound investment decisions.
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This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
