Nomura Asset Management Co. Ltd. Raises Holdings in KeyCorp (NYSE:KEY)

Nomura Asset Management Co. Ltd. lifted its holdings in KeyCorp (NYSE:KEY) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,859 shares of the financial services provider’s stock after buying an additional 25,656 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in KeyCorp were worth $5,090,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KEY. Assenagon Asset Management S.A. grew its stake in shares of KeyCorp by 87.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock worth $18,598,000 after purchasing an additional 610,688 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in KeyCorp by 14.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after buying an additional 85,052 shares during the period. MBB Public Markets I LLC purchased a new position in KeyCorp in the second quarter valued at about $981,000. Dai ichi Life Insurance Company Ltd acquired a new stake in shares of KeyCorp during the 3rd quarter valued at approximately $798,000. Finally, Prospector Partners LLC purchased a new stake in shares of KeyCorp during the 3rd quarter worth approximately $9,630,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KEY. The Goldman Sachs Group lifted their price objective on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada lifted their price target on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Evercore ISI increased their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Wedbush lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Finally, Barclays upped their price target on shares of KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.16.

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 15,011 shares of the firm’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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction that occurred on 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 represents a 19.20 % 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 insiders.

KeyCorp Price Performance

KEY opened at $18.13 on Friday. 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 $18.24 and its 200 day simple moving average is $16.36. The stock has a market capitalization of $17.97 billion, a PE ratio of 1,813.00, a P/E/G ratio of 1.01 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 announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, beating 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 net margin of 0.76% and a return on equity of 8.24%. As a group, sell-side analysts expect that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date was Tuesday, December 3rd. KeyCorp’s dividend payout ratio (DPR) 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.