KeyCorp (NYSE:KEY) Shares Acquired by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in KeyCorp (NYSE:KEY) by 164.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,660,680 shares of the financial services provider’s stock after acquiring an additional 2,900,971 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in KeyCorp were worth $78,066,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Financial Advocates Investment Management lifted its holdings in KeyCorp by 2.3% during the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock worth $450,000 after buying an additional 602 shares during the last quarter. HM Payson & Co. lifted 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 worth $51,000 after purchasing 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 valued at $250,000 after purchasing an additional 675 shares in the last quarter. Vontobel Holding Ltd. increased its stake in KeyCorp by 2.1% in the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 679 shares during the last quarter. Finally, Empirical Finance LLC raised its holdings in KeyCorp by 2.2% during the third 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 in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Wedbush raised their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Evercore ISI lifted their target price on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their target price on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Finally, Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $17.00 in a research report on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.03.

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 15,011 shares of KeyCorp 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 sale, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction on 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 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 position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

KeyCorp Price Performance

Shares of NYSE KEY opened at $19.25 on Friday. The stock has a fifty day moving average price of $17.48 and a 200 day moving average price of $15.92. KeyCorp has a 1-year low of $11.64 and a 1-year high of $20.00. 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 company has a market cap of $19.08 billion, a PE ratio of 1,925.00, a P/E/G ratio of 1.05 and a beta of 1.24.

KeyCorp (NYSE:KEY) last released 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. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Sell-side analysts forecast that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.26%. KeyCorp’s dividend payout ratio is presently 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.