Y Intercept Hong Kong Ltd Raises Position in KeyCorp (NYSE:KEY)

Y Intercept Hong Kong Ltd lifted its stake in shares of KeyCorp (NYSE:KEY) by 60.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 194,629 shares of the financial services provider’s stock after purchasing an additional 73,384 shares during the period. Y Intercept Hong Kong Ltd’s holdings in KeyCorp were worth $3,260,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of KEY. Azora Capital LP purchased a new stake in shares of KeyCorp during the 3rd quarter worth approximately $92,413,000. Assenagon Asset Management S.A. increased its stake in shares of KeyCorp by 280.3% during 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 last quarter. Ceredex Value Advisors LLC increased its stake in shares of KeyCorp by 112.4% during the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after purchasing an additional 3,517,755 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of KeyCorp by 108.3% during 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 last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of 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 worth $78,066,000 after purchasing an additional 2,900,971 shares during the last quarter. Hedge funds and other institutional investors 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 business’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 in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s 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 completion of the transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Morgan Stanley lifted their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Thursday, November 7th. Evercore ISI lifted their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.16.

KeyCorp Stock Performance

KeyCorp stock opened at $18.55 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $18.38 billion, a PE ratio of 1,854.50, a P/E/G ratio of 1.04 and a beta of 1.25. The firm has a fifty day simple moving average of $18.10 and a two-hundred day simple moving average of $16.28. KeyCorp has a twelve month low of $12.94 and a twelve month high of $20.04.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results 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. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. Research analysts expect that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently declared 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. This represents a $0.82 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp’s dividend payout ratio 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.