KeyCorp (NYSE:KEY) Stock Holdings Trimmed by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in shares of KeyCorp (NYSE:KEY) by 0.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,702,647 shares of the financial services provider’s stock after selling 18,600 shares during the quarter. Geode Capital Management LLC owned about 2.19% of KeyCorp worth $362,251,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of KEY. M&T Bank Corp lifted its stake in KeyCorp by 2.1% during the third quarter. M&T Bank Corp now owns 43,507 shares of the financial services provider’s stock worth $729,000 after purchasing an additional 887 shares during the last quarter. Geller Advisors LLC bought a new position in shares of KeyCorp in the 3rd quarter worth about $282,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of KeyCorp by 9.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 303,859 shares of the financial services provider’s stock valued at $5,090,000 after buying an additional 25,656 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of KeyCorp by 60.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 194,629 shares of the financial services provider’s stock valued at $3,260,000 after buying an additional 73,384 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in KeyCorp by 7.2% during the third quarter. Orion Portfolio Solutions LLC now owns 55,927 shares of the financial services provider’s stock worth $937,000 after acquiring an additional 3,764 shares during the period. Institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Evercore ISI upped their target price on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Piper Sandler raised their target price on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company boosted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $17.00 in a research report on Monday, October 14th. Finally, 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, November 26th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.16.

KeyCorp Stock Performance

NYSE:KEY opened at $18.13 on Friday. The company has a 50-day moving average of $18.24 and a 200-day moving average of $16.36. The firm has a market cap of $17.97 billion, a price-to-earnings ratio of 1,813.00, a price-to-earnings-growth ratio of 1.01 and a beta of 1.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a twelve month low of $12.94 and a twelve month high of $20.04.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $1.60 billion during 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%. Analysts forecast that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date was Tuesday, December 3rd. KeyCorp’s dividend payout ratio (DPR) is presently 8,200.00%.

Insider Activity

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the company’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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of 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. 0.61% of the stock is currently owned by company 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.