Mutual of America Capital Management LLC Sells 10,878 Shares of KeyCorp (NYSE:KEY)

Mutual of America Capital Management LLC trimmed its position in shares of KeyCorp (NYSE:KEY) by 6.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 158,048 shares of the financial services provider’s stock after selling 10,878 shares during the quarter. Mutual of America Capital Management LLC’s holdings in KeyCorp were worth $2,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of KEY. Assenagon Asset Management S.A. boosted its position in KeyCorp by 280.3% in the third 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 during the last quarter. Ceredex Value Advisors LLC boosted its holdings in shares of KeyCorp by 112.4% in the second 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. Victory Capital Management Inc. grew its position in 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 valued at $63,452,000 after buying an additional 2,790,192 shares during the period. Point72 Asset Management L.P. purchased a new stake in KeyCorp during the second quarter valued at approximately $33,273,000. Finally, Earnest Partners LLC raised its position in KeyCorp by 23.2% in the second quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock worth $176,631,000 after acquiring an additional 2,339,454 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KEY has been the subject of a number of recent research reports. Citigroup lowered KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Thursday, November 7th. Morgan Stanley upped their price target on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. UBS Group raised 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. Finally, Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $17.00 in a research report on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and a consensus price target of $18.03.

KeyCorp Stock Up 2.0 %

Shares of KEY opened at $19.60 on Friday. The business’s 50 day simple moving average is $17.55 and its 200-day simple moving average is $15.96. KeyCorp has a 1 year low of $11.64 and a 1 year high of $20.00. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $19.43 billion, a price-to-earnings ratio of 1,960.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.24.

KeyCorp (NYSE:KEY) last released its quarterly earnings data 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. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. As a group, equities 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. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.18%. KeyCorp’s dividend payout ratio (DPR) is presently 8,200.00%.

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 shares were 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 owns 37,864 shares in the company, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction dated 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 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. Company insiders own 0.61% of the company’s stock.

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.