KeyCorp (NYSE:KEY) Shares Bought by Paloma Partners Management Co

Paloma Partners Management Co lifted its stake in shares of KeyCorp (NYSE:KEY) by 364.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 58,500 shares of the financial services provider’s stock after acquiring an additional 45,915 shares during the period. Paloma Partners Management Co’s holdings in KeyCorp were worth $980,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Cetera Investment Advisers boosted its holdings in shares of KeyCorp by 274.4% in the 1st quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock valued at $5,251,000 after purchasing an additional 243,437 shares during the last quarter. Cetera Advisors LLC grew its position in KeyCorp by 116.4% during the first quarter. Cetera Advisors LLC now owns 155,448 shares of the financial services provider’s stock valued at $2,458,000 after acquiring an additional 83,601 shares during the period. DekaBank Deutsche Girozentrale increased its stake in KeyCorp by 8.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 236,774 shares of the financial services provider’s stock worth $3,683,000 after acquiring an additional 19,052 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of KeyCorp by 22.6% in the 2nd quarter. GAMMA Investing LLC now owns 23,388 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 4,312 shares during the period. Finally, DNB Asset Management AS lifted its stake in shares of KeyCorp by 11.2% in the 2nd quarter. DNB Asset Management AS now owns 147,797 shares of the financial services provider’s stock valued at $2,100,000 after purchasing an additional 14,854 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on KEY shares. Royal Bank of Canada increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. DA Davidson lifted their target price on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 21st. The Goldman Sachs Group increased their price target on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. UBS Group boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Barclays upped their target price on KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.26.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the firm’s 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 sale, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.

KeyCorp Stock Down 1.9 %

NYSE:KEY opened at $19.11 on Tuesday. 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 $18.94 billion, a price-to-earnings ratio of 1,911.00, a price-to-earnings-growth ratio of 1.07 and a beta of 1.25. KeyCorp has a one year low of $12.76 and a one year high of $20.04. The stock has a 50-day simple moving average of $17.88 and a 200 day simple moving average of $16.15.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. Sell-side analysts predict that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.205 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.82 annualized dividend and a yield of 4.29%. KeyCorp’s payout ratio is 8,200.00%.

About KeyCorp

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.