Westfield Capital Management Co. LP Sells 332,673 Shares of KeyCorp (NYSE:KEY)

Westfield Capital Management Co. LP reduced its stake in KeyCorp (NYSE:KEY) by 14.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,895,726 shares of the financial services provider’s stock after selling 332,673 shares during the quarter. Westfield Capital Management Co. LP owned about 0.19% of KeyCorp worth $31,753,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its stake in shares of KeyCorp by 285.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,142 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in KeyCorp in the first quarter valued at $25,000. American Capital Advisory LLC bought a new stake in KeyCorp during the third quarter valued at $28,000. Larson Financial Group LLC grew its holdings in KeyCorp by 90.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 918 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in shares of KeyCorp in the 3rd quarter worth about $35,000. 79.69% of the stock is currently owned by institutional investors.

Insider Activity

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the firm’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 completion of the sale, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction 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 owns 37,864 shares in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $17.00 in a report on Monday, October 14th. The Goldman Sachs Group set a $19.00 price target on shares of KeyCorp in a report on Thursday, October 17th. Citigroup cut shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Thursday, November 7th. Morgan Stanley raised their target price on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Finally, UBS Group upped their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and a consensus target price of $18.03.

KeyCorp Trading Up 2.0 %

Shares of KEY stock opened at $19.60 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $19.43 billion, a price-to-earnings ratio of 1,960.00, a PEG ratio of 1.08 and a beta of 1.24. KeyCorp has a 52-week low of $11.64 and a 52-week high of $20.00. The company has a 50-day simple moving average of $17.55 and a two-hundred day simple moving average of $15.97.

KeyCorp (NYSE:KEY) last announced 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 for the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. Research analysts anticipate that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be paid 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 4.18%. KeyCorp’s dividend payout ratio (DPR) is presently 8,200.00%.

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.