KeyCorp (NYSE:KEY) Stake Raised by Pitcairn Co.

Pitcairn Co. lifted its holdings in shares of KeyCorp (NYSE:KEY) by 9.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,871 shares of the financial services provider’s stock after buying an additional 1,247 shares during the period. Pitcairn Co.’s holdings in KeyCorp were worth $232,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new stake in shares of KeyCorp during the first quarter valued at about $25,000. Wolff Wiese Magana LLC increased its stake in KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,142 shares during the period. American Capital Advisory LLC bought a new stake in shares of KeyCorp during the 3rd quarter worth about $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of KeyCorp in the 3rd quarter worth approximately $35,000. Finally, Capital Performance Advisors LLP bought a new position in shares of KeyCorp in the third quarter valued at approximately $38,000. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Performance

Shares of KEY stock opened at $19.52 on Thursday. The company has a market capitalization of $19.35 billion, a price-to-earnings ratio of 1,952.00, a P/E/G ratio of 1.09 and a beta of 1.24. KeyCorp has a 1-year low of $11.64 and a 1-year high of $20.04. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $17.74 and its 200-day simple moving average is $16.06.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, beating 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 return on equity of 8.24% and a net margin of 0.76%. On average, sell-side analysts predict that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be given a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.20%. KeyCorp’s payout ratio is 8,200.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley upped their target price on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Jefferies Financial Group raised their target price on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Barclays boosted their price target on shares of KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $17.00 in a research report on Monday, October 14th. Finally, Royal Bank of Canada lifted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.26.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The stock was 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 in the company, valued at $648,988.96. The trade was a 19.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela G. Mago sold 15,011 shares of the 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 completion of the transaction, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

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.