Avanza Fonder AB Invests $1.62 Million in KeyCorp (NYSE:KEY)

Avanza Fonder AB bought a new position in shares of KeyCorp (NYSE:KEY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 94,393 shares of the financial services provider's stock, valued at approximately $1,618,000.

Several other large investors have also added to or reduced their stakes in KEY. Azora Capital LP bought a new stake in KeyCorp in the 3rd quarter worth about $92,413,000. Assenagon Asset Management S.A. grew its holdings in shares of 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 in the last quarter. Thrivent Financial for Lutherans lifted its holdings in KeyCorp by 108.3% during the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider's stock worth $98,025,000 after acquiring an additional 3,042,060 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in KeyCorp by 164.9% in the third 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 purchasing an additional 2,900,971 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of KeyCorp by 279.6% during the 3rd quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider's stock valued at $63,452,000 after purchasing an additional 2,790,192 shares during the last quarter. Institutional investors own 79.69% of the company's stock.

KeyCorp Price Performance

KEY traded up $0.48 on Friday, reaching $18.32. The company had a trading volume of 17,405,857 shares, compared to its average volume of 8,603,990. 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 has a 52-week low of $12.94 and a 52-week high of $20.04. The company has a market cap of $18.16 billion, a price-to-earnings ratio of 1,832.30, a P/E/G ratio of 0.63 and a beta of 1.27. The business has a 50 day simple moving average of $18.18 and a 200 day simple moving average of $17.01.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings data 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 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, sell-side analysts anticipate that KeyCorp will post 1.1 EPS for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given 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 payout ratio is 8,200.00%.

Insider Activity

In other news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the sale, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 37,864 shares of the company's stock, 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 corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KEY. The Goldman Sachs Group boosted their price target on shares of KeyCorp from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. DA Davidson upped their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company a "buy" rating in a report on Monday, October 21st. 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 note on Tuesday, September 24th. Evercore ISI upped their price target 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. Finally, Robert W. Baird cut shares of KeyCorp from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $18.00 to $17.00 in a report on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.44.

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.