KeyCorp (NYSE:KEY) Shares Sold by Commerce Bank

Commerce Bank decreased its holdings in KeyCorp (NYSE:KEY) by 10.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,953 shares of the financial services provider’s stock after selling 22,123 shares during the period. Commerce Bank’s holdings in KeyCorp were worth $3,081,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of KEY. Assenagon Asset Management S.A. grew its stake in KeyCorp by 280.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after purchasing an additional 3,668,168 shares in the last quarter. Ceredex Value Advisors LLC boosted its stake in shares of KeyCorp by 112.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after buying an additional 3,517,755 shares during the period. Thrivent Financial for Lutherans grew its position 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 buying an additional 3,042,060 shares in the last quarter. Victory Capital Management Inc. increased its stake 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 buying an additional 2,790,192 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in KeyCorp in the second quarter valued at approximately $33,273,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction 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 directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $19.60 on Friday. KeyCorp has a 52-week low of $11.64 and a 52-week high of $20.00. The stock’s 50-day moving average price is $17.55 and its 200 day moving average price is $15.95. 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 $19.42 billion, a PE ratio of 1,959.50, a price-to-earnings-growth ratio of 1.05 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 (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 business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. As a group, equities research analysts forecast that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s payout ratio is 8,200.00%.

Wall Street Analysts Forecast Growth

KEY has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 19th. UBS Group raised their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. DA Davidson upped their price objective on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Finally, Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $17.00 in a research note on Monday, October 14th. 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, the company presently has an average rating of “Moderate Buy” and an average price target of $18.03.

KeyCorp 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.