Fmr LLC Trims Holdings in KeyCorp (NYSE:KEY)

Fmr LLC trimmed its position in shares of KeyCorp (NYSE:KEY) by 25.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,493,121 shares of the financial services provider’s stock after selling 13,835,289 shares during the quarter. Fmr LLC owned approximately 4.19% of KeyCorp worth $695,010,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in KEY. Assenagon Asset Management S.A. boosted its stake in shares of KeyCorp by 87.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock valued at $18,598,000 after acquiring an additional 610,688 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in KeyCorp by 14.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after purchasing an additional 85,052 shares during the last quarter. MBB Public Markets I LLC purchased a new position in shares of KeyCorp in the 2nd quarter worth $981,000. Cetera Investment Advisers raised its holdings in shares of KeyCorp by 274.4% in the 1st quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock worth $5,251,000 after purchasing an additional 243,437 shares during the period. Finally, Gateway Investment Advisers LLC raised its holdings in KeyCorp by 92.6% in the second quarter. Gateway Investment Advisers LLC now owns 302,681 shares of the financial services provider’s stock valued at $4,301,000 after buying an additional 145,555 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Trading Down 0.7 %

Shares of KEY stock opened at $19.52 on Friday. KeyCorp has a fifty-two week low of $11.64 and a fifty-two week high of $20.04. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $19.35 billion, a P/E ratio of 1,952.00, a P/E/G ratio of 1.08 and a beta of 1.24. The stock has a 50-day simple moving average of $17.79 and a 200 day simple moving average of $16.08.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. On average, sell-side analysts expect that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 4.20%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s dividend payout ratio is presently 8,200.00%.

Wall Street Analysts Forecast Growth

KEY has been the topic of several research reports. Jefferies Financial Group raised their price objective on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Evercore ISI increased their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. UBS Group lifted their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Thursday, November 7th. Finally, Wells Fargo & Company increased their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.26.

Insider Activity

In related news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This represents a 19.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the business’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 transaction of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company 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.