71,788 Shares in KeyCorp (NYSE:KEY) Acquired by Weiss Asset Management LP

Weiss Asset Management LP bought a new position in shares of KeyCorp (NYSE:KEY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 71,788 shares of the financial services provider’s stock, valued at approximately $1,202,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KEY. SG Americas Securities LLC grew its stake in KeyCorp by 171.5% during the 2nd quarter. SG Americas Securities LLC now owns 297,620 shares of the financial services provider’s stock worth $4,229,000 after purchasing an additional 188,010 shares in the last quarter. Czech National Bank grew its position in shares of KeyCorp by 9.0% during the second quarter. Czech National Bank now owns 179,670 shares of the financial services provider’s stock worth $2,553,000 after buying an additional 14,902 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of KeyCorp by 4.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 81,879 shares of the financial services provider’s stock worth $1,164,000 after buying an additional 3,306 shares during the period. V Square Quantitative Management LLC raised its holdings in KeyCorp by 64.7% in the second quarter. V Square Quantitative Management LLC now owns 29,279 shares of the financial services provider’s stock valued at $416,000 after acquiring an additional 11,505 shares in the last quarter. Finally, PGGM Investments lifted its stake in KeyCorp by 35.3% in the second quarter. PGGM Investments now owns 15,303 shares of the financial services provider’s stock worth $217,000 after acquiring an additional 3,995 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $18.87 on Monday. The stock’s 50-day moving average price is $18.06 and its 200 day moving average price is $16.25. 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 stock has a market capitalization of $18.71 billion, a PE ratio of 1,887.00, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25. KeyCorp has a 52-week low of $12.94 and a 52-week high of $20.04.

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

KeyCorp Announces Dividend

The company also recently disclosed 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 payout ratio is currently 8,200.00%.

Insider Transactions at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the firm’s 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s 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 transaction, the director now directly owns 37,864 shares in the company, valued at $648,988.96. This represents a 19.20 % 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

KEY has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Piper Sandler upped their price objective on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Evercore ISI raised 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. Keefe, Bruyette & Woods upped their price target on KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley boosted their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.16.

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.