Kovitz Investment Group Partners LLC Boosts Stock Holdings in KeyCorp (NYSE:KEY)

Kovitz Investment Group Partners LLC raised its holdings in KeyCorp (NYSE:KEY) by 4.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,023 shares of the financial services provider’s stock after purchasing an additional 8,885 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in KeyCorp were worth $3,736,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KEY. Azora Capital LP purchased a new stake in shares of KeyCorp in the third quarter valued at approximately $92,413,000. Assenagon Asset Management S.A. lifted its holdings in KeyCorp by 280.3% in the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock valued at $83,364,000 after acquiring an additional 3,668,168 shares during the period. Ceredex Value Advisors LLC boosted its position in shares of KeyCorp by 112.4% during the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after purchasing an additional 3,517,755 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of KeyCorp by 108.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after purchasing an additional 3,042,060 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of KeyCorp by 164.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock valued at $78,066,000 after purchasing an additional 2,900,971 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY opened at $18.87 on Monday. KeyCorp has a 1 year low of $12.94 and a 1 year high of $20.04. The company’s 50 day simple moving average is $18.06 and its 200 day simple moving average is $16.25. The company has a market capitalization of $18.71 billion, a price-to-earnings ratio of 1,887.00, a PEG ratio of 1.04 and a beta of 1.25. 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 (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. On average, sell-side analysts predict that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s payout ratio is 8,200.00%.

Insider Buying and Selling at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction 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 transaction, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on KEY shares. Wells Fargo & Company boosted their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Jefferies Financial Group boosted their price target on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Piper Sandler lifted their price objective on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, DA Davidson upped their target price on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 21st. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.16.

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.