Jacobs Levy Equity Management Inc. Acquires 71,290 Shares of KeyCorp (NYSE:KEY)

Jacobs Levy Equity Management Inc. grew its holdings in KeyCorp (NYSE:KEY) by 3.4% during the third quarter, Holdings Channel.com reports. The firm owned 2,138,140 shares of the financial services provider’s stock after acquiring an additional 71,290 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in KeyCorp were worth $35,814,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in KeyCorp by 22.3% during the 3rd quarter. Janus Henderson Group PLC now owns 106,013 shares of the financial services provider’s stock worth $1,776,000 after buying an additional 19,300 shares in the last quarter. HighTower Advisors LLC raised its holdings in KeyCorp by 9.2% during the third quarter. HighTower Advisors LLC now owns 202,681 shares of the financial services provider’s stock worth $3,391,000 after acquiring an additional 17,140 shares in the last quarter. Hilltop Holdings Inc. acquired a new position in KeyCorp during the third quarter valued at approximately $393,000. Cinctive Capital Management LP acquired a new position in KeyCorp during the third quarter valued at approximately $2,965,000. Finally, Benjamin Edwards Inc. bought a new position in KeyCorp in the third quarter valued at approximately $406,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insiders Place Their Bets

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the 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 sale, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’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 transaction of $154,260.00. Following the completion of the transaction, the director now owns 37,864 shares of the company’s stock, valued at $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. Corporate insiders own 0.67% of the company’s stock.

KeyCorp Stock Down 0.6 %

KEY opened at $18.79 on Wednesday. The stock has a fifty day moving average of $17.92 and a 200-day moving average of $16.17. The company has a market capitalization of $18.63 billion, a P/E ratio of 1,879.00, a P/E/G ratio of 1.05 and a beta of 1.25. KeyCorp has a fifty-two week low of $12.76 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. On average, equities analysts expect that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s dividend payout ratio is currently 8,200.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KEY shares. Citigroup cut shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Thursday, November 7th. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $17.00 in a research report on Monday, October 14th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a report on Tuesday, September 10th. The Goldman Sachs Group lifted 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, Jefferies Financial Group upped their price objective on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.56.

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.