Fifth Third Bancorp Decreases Stake in KeyCorp (NYSE:KEY)

Fifth Third Bancorp lessened its position in shares of KeyCorp (NYSE:KEYFree Report) by 47.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,433 shares of the financial services provider’s stock after selling 133,585 shares during the quarter. Fifth Third Bancorp’s holdings in KeyCorp were worth $2,527,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Azora Capital LP purchased a new position in KeyCorp in the third quarter worth about $92,413,000. Assenagon Asset Management S.A. boosted its holdings 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 worth $83,364,000 after purchasing an additional 3,668,168 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of KeyCorp by 108.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after purchasing an additional 3,042,060 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in KeyCorp by 164.9% during the 3rd 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 buying an additional 2,900,971 shares during the period. Finally, Victory Capital Management Inc. lifted its position in KeyCorp by 279.6% in 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 last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $17.68 on Tuesday. The firm has a market cap of $17.52 billion, a price-to-earnings ratio of -58.91, a PEG ratio of 0.65 and a beta of 1.27. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04. The company has a quick ratio of 0.88, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The company’s 50 day moving average is $18.03 and its 200 day moving average is $17.13.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s payout ratio is -273.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. DA Davidson cut their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Wells Fargo & Company increased their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays raised their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. The Goldman Sachs Group increased their price target on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, UBS Group boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and a consensus price target of $19.58.

Check Out Our Latest Stock Report on KeyCorp

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction 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. The trade was 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.

KeyCorp Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding KEY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KeyCorp (NYSE:KEYFree Report).

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.