Thrivent Financial for Lutherans Boosts Position in KeyCorp (NYSE:KEY)

Thrivent Financial for Lutherans lifted its position in KeyCorp (NYSE:KEY) by 108.3% in the 3rd quarter, Holdings Channel reports. The fund owned 5,852,233 shares of the financial services provider’s stock after acquiring an additional 3,042,060 shares during the quarter. Thrivent Financial for Lutherans’ holdings in KeyCorp were worth $98,025,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Advocates Investment Management lifted its holdings in shares of KeyCorp by 2.3% during the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after purchasing an additional 602 shares during the last quarter. HM Payson & Co. raised its stake in KeyCorp by 27.0% during the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock valued at $51,000 after buying an additional 650 shares during the last quarter. Graypoint LLC boosted its holdings in KeyCorp by 4.7% in the third quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 675 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of KeyCorp by 2.1% in the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after acquiring an additional 679 shares during the last quarter. Finally, Empirical Finance LLC raised its position in shares of KeyCorp by 2.2% in the 3rd quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock worth $542,000 after purchasing an additional 705 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 on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the sale, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. The trade was a 6.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The stock was 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 directly owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by corporate insiders.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $19.16 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. KeyCorp has a 1 year low of $11.64 and a 1 year high of $20.00. The firm has a fifty day moving average price of $17.23 and a 200-day moving average price of $15.82. The stock has a market cap of $18.99 billion, a PE ratio of 1,916.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. Equities analysts anticipate that KeyCorp will post 1.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

KEY has been the topic of several analyst reports. Jefferies Financial Group upped their target price on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. UBS Group increased their target price on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $17.00 in a report on Monday, October 14th. Wedbush upped their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Finally, Morgan Stanley raised their target price on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.03.

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.