State Street Corp Has $769.55 Million Stock Holdings in KeyCorp (NYSE:KEY)

State Street Corp grew its holdings in KeyCorp (NYSE:KEY) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,943,073 shares of the financial services provider’s stock after purchasing an additional 29,554 shares during the quarter. State Street Corp owned about 4.63% of KeyCorp worth $769,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quantinno Capital Management LP lifted its stake in shares of KeyCorp by 8.8% in the 3rd quarter. Quantinno Capital Management LP now owns 207,262 shares of the financial services provider’s stock valued at $3,472,000 after purchasing an additional 16,744 shares during the period. Quarry LP lifted its stake in shares of KeyCorp by 150.7% in the 3rd quarter. Quarry LP now owns 4,606 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 2,769 shares during the period. IHT Wealth Management LLC lifted its stake in shares of KeyCorp by 65.5% in the 3rd quarter. IHT Wealth Management LLC now owns 21,004 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 8,316 shares during the period. Investment Management Corp of Ontario increased its position in KeyCorp by 51.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 31,222 shares of the financial services provider’s stock valued at $523,000 after buying an additional 10,600 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in KeyCorp by 3.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,138,140 shares of the financial services provider’s stock worth $35,814,000 after buying an additional 71,290 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Price Performance

KEY opened at $18.87 on Monday. The firm has a market cap of $18.71 billion, a P/E ratio of 1,887.00, a PEG ratio of 1.04 and a beta of 1.25. The firm has a 50-day moving average of $18.06 and a 200 day moving average of $16.25. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. KeyCorp has a fifty-two week low of $12.94 and a fifty-two week 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, beating 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 net margin of 0.76% and a return on equity of 8.24%. On average, research analysts expect that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

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 given a dividend of $0.205 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.35%. KeyCorp’s dividend payout ratio is presently 8,200.00%.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the 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. This trade represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela G. Mago sold 15,011 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Royal Bank of Canada raised their price objective on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Wells Fargo & Company boosted their price target 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. Wedbush raised their price objective 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. Piper Sandler boosted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley raised their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and an average price target of $19.16.

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.