Quantbot Technologies LP Raises Stock Position in KeyCorp (NYSE:KEY)

Quantbot Technologies LP grew its stake in shares of KeyCorp (NYSE:KEY) by 80.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 554,646 shares of the financial services provider’s stock after acquiring an additional 248,090 shares during the period. Quantbot Technologies LP owned about 0.06% of KeyCorp worth $9,290,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KEY. Assenagon Asset Management S.A. increased its stake in KeyCorp by 280.3% in the 3rd 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 purchasing an additional 3,668,168 shares in the last quarter. Ceredex Value Advisors LLC increased its position in shares of KeyCorp by 112.4% in the second quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after buying an additional 3,517,755 shares in the last quarter. Thrivent Financial for Lutherans raised 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 buying an additional 3,042,060 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position 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 worth $78,066,000 after buying an additional 2,900,971 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of KeyCorp by 279.6% in the 3rd quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock worth $63,452,000 after buying an additional 2,790,192 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Activity at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KEY. Royal Bank of Canada lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Barclays upped their target price on KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Thursday, November 7th. UBS Group upped their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Tuesday, September 10th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and an average target price of $18.03.

KeyCorp Trading Up 1.1 %

Shares of KEY stock opened at $19.81 on Tuesday. The firm’s 50-day simple moving average is $17.62 and its 200-day simple moving average is $16.00. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. KeyCorp has a 1-year low of $11.64 and a 1-year high of $20.04. The firm has a market cap of $19.64 billion, a P/E ratio of 1,981.00, a PEG ratio of 1.08 and a beta of 1.24.

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, topping analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. As a group, equities analysts forecast that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp’s dividend payout ratio (DPR) is currently 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.