Weiss Asset Management LP Acquires New Shares in KeyCorp (NYSE:KEY)

Weiss Asset Management LP acquired a new position in KeyCorp (NYSE:KEY - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 71,788 shares of the financial services provider's stock, valued at approximately $1,202,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wolff Wiese Magana LLC raised its position in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider's stock worth $26,000 after acquiring an additional 1,142 shares during the period. American Capital Advisory LLC bought a new position in KeyCorp in the 3rd quarter worth $28,000. Larson Financial Group LLC lifted its position in KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in KeyCorp during the third quarter valued at about $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in KeyCorp in the third quarter worth about $38,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on KeyCorp from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods lifted their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. UBS Group increased their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. DA Davidson lifted their target price on shares of KeyCorp from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company increased their price target on KeyCorp from $20.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Nine research 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.16.

KeyCorp Stock Down 1.7 %

KEY stock traded down $0.32 during trading on Monday, reaching $18.55. 7,997,843 shares of the company traded hands, compared to its average volume of 13,537,980. The business has a 50 day simple moving average of $18.10 and a 200 day simple moving average of $16.28. KeyCorp has a 12 month low of $12.94 and a 12 month high of $20.04. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $18.38 billion, a price-to-earnings ratio of 1,854.50, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.59 billion. On average, equities research analysts anticipate that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently declared 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 of this dividend is Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.42%. KeyCorp's dividend payout ratio is currently 8,200.00%.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of the firm's 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 sale, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction dated 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 transaction, the insider now owns 234,582 shares of the company's stock, valued at approximately $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 0.67% of the company's stock.

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.