UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Holdings in KeyCorp (NYSE:KEY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in KeyCorp (NYSE:KEY) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,114,598 shares of the financial services provider’s stock after acquiring an additional 222,187 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.72% of KeyCorp worth $119,170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. 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 acquiring an additional 1,142 shares during the last quarter. American Capital Advisory LLC acquired a new stake in shares of KeyCorp in the third quarter valued at about $28,000. Larson Financial Group LLC lifted its stake in shares of KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after buying an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in KeyCorp during the third quarter worth about $35,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of KeyCorp during the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was 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 trade represents a 19.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

KeyCorp Stock Performance

NYSE:KEY opened at $19.48 on Monday. KeyCorp has a 52 week low of $12.22 and a 52 week high of $20.04. The company has a fifty day simple moving average of $17.83 and a two-hundred day simple moving average of $16.12. 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 cap of $19.31 billion, a price-to-earnings ratio of 1,948.00, a price-to-earnings-growth ratio of 1.07 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. The firm had revenue of $1.60 billion during 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%. As a group, equities analysts anticipate that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.21%. KeyCorp’s dividend payout ratio is currently 8,200.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KEY. The Goldman Sachs Group raised their target price on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Barclays lifted their price target on shares of KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Royal Bank of Canada increased their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Morgan Stanley raised their target price on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.26.

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.