KeyCorp (NYSE:KEY) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in shares of KeyCorp (NYSE:KEY) by 340.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 413,011 shares of the financial services provider’s stock after purchasing an additional 319,155 shares during the quarter. Franklin Resources Inc.’s holdings in KeyCorp were worth $7,186,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Wolff Wiese Magana LLC boosted its stake in shares of KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,142 shares during the last quarter. American Capital Advisory LLC purchased a new stake in KeyCorp in the 3rd quarter worth approximately $28,000. Larson Financial Group LLC grew its stake in shares of 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 purchasing an additional 918 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of KeyCorp during the 3rd quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of KeyCorp in the 3rd quarter valued at $38,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Activity

In other KeyCorp news, 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 value of $294,065.49. Following the transaction, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This 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 KeyCorp stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

KeyCorp Trading Up 1.7 %

Shares of KeyCorp stock opened at $17.09 on Monday. 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’s 50 day simple moving average is $18.29 and its 200-day simple moving average is $16.49. The stock has a market cap of $16.94 billion, a P/E ratio of 1,709.00, a P/E/G ratio of 1.00 and a beta of 1.25. KeyCorp has a 1-year low of $12.94 and a 1-year high of $20.04.

KeyCorp (NYSE:KEY) last released its quarterly earnings data 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. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Analysts predict that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend was Tuesday, December 3rd. KeyCorp’s dividend payout ratio (DPR) is presently 8,200.00%.

Analysts Set New Price Targets

KEY has been the subject of a number of recent analyst reports. Barclays lifted their price objective on shares of KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Citigroup cut KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a report on Thursday, November 7th. Wedbush raised their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Piper Sandler boosted their price objective on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, UBS Group increased their target price on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $19.16.

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.