KeyCorp (NYSE:KEY) Stock Position Reduced by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 47.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,619,344 shares of the financial services provider's stock after selling 2,357,621 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.26% of KeyCorp worth $44,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in shares of KeyCorp during the second quarter worth about $283,000. Oppenheimer Asset Management Inc. grew its stake in KeyCorp by 40.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 82,111 shares of the financial services provider's stock worth $1,167,000 after acquiring an additional 23,604 shares during the period. Envestnet Asset Management Inc. grew its stake in KeyCorp by 4.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,922,921 shares of the financial services provider's stock worth $27,325,000 after acquiring an additional 78,856 shares during the period. Dimensional Fund Advisors LP raised its holdings in KeyCorp by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider's stock valued at $149,299,000 after acquiring an additional 300,339 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of KeyCorp during the 2nd quarter worth $2,570,000. Institutional investors and hedge funds own 79.69% of the company's stock.

Analysts Set New Price Targets

KEY has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on KeyCorp from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Evercore ISI upped 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. Royal Bank of Canada raised 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. Piper Sandler boosted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their price target on shares of 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 nine have issued a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp has a consensus rating of "Moderate Buy" and an average price target of $19.44.

KeyCorp Stock Up 2.7 %

Shares of NYSE KEY traded up $0.48 on Friday, hitting $18.32. The company had a trading volume of 17,405,857 shares, compared to its average volume of 12,775,615. The firm has a market capitalization of $18.16 billion, a P/E ratio of 1,832.30, a PEG ratio of 0.63 and a beta of 1.27. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a 12-month low of $12.94 and a 12-month high of $20.04. The business has a 50 day moving average of $18.18 and a two-hundred day moving average of $16.97.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. As a group, equities research analysts forecast that KeyCorp will post 1.1 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 4.48%. 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 KeyCorp stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $294,065.49. Following the transaction, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. This trade represents a 6.01 % 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 corporate insiders.

KeyCorp Company 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.