Truvestments Capital LLC Acquires New Position in KeyCorp (NYSE:KEY)

Truvestments Capital LLC acquired a new stake in shares of KeyCorp (NYSE:KEY) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,300 shares of the financial services provider’s stock, valued at approximately $55,000.

A number of other institutional investors have also modified their holdings of the business. Financial Advocates Investment Management grew its position in shares of KeyCorp by 2.3% during the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after buying an additional 602 shares during the last quarter. HM Payson & Co. grew its position in shares of KeyCorp by 27.0% during the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock valued at $51,000 after buying an additional 650 shares during the last quarter. Graypoint LLC grew its position in shares of KeyCorp by 4.7% during the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock valued at $250,000 after buying an additional 675 shares during the last quarter. Vontobel Holding Ltd. grew its position in shares of KeyCorp by 2.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock valued at $565,000 after buying an additional 679 shares during the last quarter. Finally, Empirical Finance LLC grew its position in shares of KeyCorp by 2.2% during the 3rd quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock valued at $542,000 after buying an additional 705 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Down 0.7 %

KEY stock opened at $19.52 on Thursday. KeyCorp has a 12 month low of $11.64 and a 12 month high of $20.04. The firm has a market cap of $19.35 billion, a PE ratio of 1,952.00, a P/E/G ratio of 1.08 and a beta of 1.24. The firm has a 50 day simple moving average of $17.74 and a 200 day simple moving average of $16.06. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS 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 analyst estimates of $1.59 billion. Equities research analysts forecast that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The firm 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 dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.20%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s dividend payout ratio is presently 8,200.00%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research report on Tuesday, September 10th. The Goldman Sachs Group upped 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. Morgan Stanley upped their target price on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Barclays upped their target price on shares of KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada upped their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.26.

Insider Activity at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

KeyCorp Company Profile

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.