KeyCorp (NYSE:KEY) Stake Increased by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its holdings in KeyCorp (NYSE:KEY) by 18.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,689 shares of the financial services provider’s stock after purchasing an additional 3,935 shares during the period. Summit Trail Advisors LLC’s holdings in KeyCorp were worth $430,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in shares of KeyCorp by 280.3% during the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after acquiring an additional 3,668,168 shares in the last quarter. Ceredex Value Advisors LLC raised its holdings in shares of KeyCorp by 112.4% during the second quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after acquiring an additional 3,517,755 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of KeyCorp by 108.3% during the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after acquiring an additional 3,042,060 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of KeyCorp by 164.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock worth $78,066,000 after acquiring an additional 2,900,971 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of KeyCorp by 279.6% during the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock worth $63,452,000 after acquiring an additional 2,790,192 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on KEY. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. UBS Group increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. The Goldman Sachs Group increased their target price on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $17.00 in a research report on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and a consensus price target of $18.26.

KeyCorp Trading Down 0.8 %

Shares of NYSE:KEY opened at $19.66 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50-day moving average is $17.68 and its 200-day moving average is $16.03. KeyCorp has a 52-week low of $11.64 and a 52-week high of $20.04. The company has a market cap of $19.48 billion, a P/E ratio of 1,965.50, a P/E/G ratio of 1.08 and a beta of 1.24.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Equities research analysts predict that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp’s payout ratio is presently 8,200.00%.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.

About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.