Chevy Chase Trust Holdings LLC Has $8.34 Million Stake in KeyCorp (NYSE:KEY)

Chevy Chase Trust Holdings LLC cut its position in KeyCorp (NYSE:KEY) by 3.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 497,662 shares of the financial services provider’s stock after selling 17,088 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in KeyCorp were worth $8,336,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in KEY. Azora Capital LP bought a new position in KeyCorp in the third quarter valued at approximately $92,413,000. Assenagon Asset Management S.A. increased its stake in shares of KeyCorp by 280.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock valued at $83,364,000 after purchasing an additional 3,668,168 shares during the last quarter. Ceredex Value Advisors LLC lifted its position in shares of KeyCorp by 112.4% during the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after buying an additional 3,517,755 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in KeyCorp by 108.3% in the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock valued at $98,025,000 after buying an additional 3,042,060 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in KeyCorp by 164.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock valued at $78,066,000 after acquiring an additional 2,900,971 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s 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 in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

KEY stock opened at $18.73 on Friday. 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 firm has a market cap of $18.56 billion, a price-to-earnings ratio of 1,872.50, a PEG ratio of 1.04 and a beta of 1.25. The company’s fifty day simple moving average is $18.01 and its 200 day simple moving average is $16.21. KeyCorp has a 12-month low of $12.94 and a 12-month high of $20.04.

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, beating analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. On average, analysts expect that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s payout ratio is 8,200.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wedbush increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. UBS Group boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada increased their price target on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Citigroup lowered KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Thursday, November 7th. Finally, Jefferies Financial Group increased their target price on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.16.

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.