Barclays PLC Decreases Stock Holdings in KeyCorp (NYSE:KEY)

Barclays PLC lessened its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 29.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,044,401 shares of the financial services provider's stock after selling 1,259,849 shares during the quarter. Barclays PLC owned about 0.31% of KeyCorp worth $50,993,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its position in shares of KeyCorp by 87.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider's stock valued at $18,598,000 after buying an additional 610,688 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake 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 valued at $10,928,000 after acquiring an additional 85,052 shares in the last quarter. MBB Public Markets I LLC bought a new stake in KeyCorp in the 2nd quarter valued at $981,000. Dai ichi Life Insurance Company Ltd purchased a new stake in KeyCorp in the 3rd quarter worth $798,000. Finally, Prospector Partners LLC bought a new position in shares of KeyCorp during the 3rd quarter valued at about $9,630,000. Institutional investors own 79.69% of the company's stock.

KeyCorp Trading Up 0.4 %

Shares of NYSE KEY traded up $0.07 during midday trading on Friday, hitting $18.13. The company's stock had a trading volume of 8,336,292 shares, compared to its average volume of 13,473,311. KeyCorp has a 12-month low of $12.94 and a 12-month high of $20.04. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The firm has a market cap of $17.97 billion, a P/E ratio of 1,813.00, a price-to-earnings-growth ratio of 1.01 and a beta of 1.25. The business's 50 day moving average is $18.21 and its two-hundred day moving average is $16.33.

KeyCorp (NYSE:KEY - Get Free Report) last released its 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 business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. As a group, equities research analysts expect that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.205 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.52%. KeyCorp's payout ratio is 8,200.00%.

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 15,011 shares of the company's 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 sale, the insider now directly 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 through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the firm's stock in a transaction dated 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 directly owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on KEY shares. Wedbush lifted their target price on KeyCorp from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Tuesday, September 24th. Evercore ISI raised their price target on KeyCorp from $18.50 to $20.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. Royal Bank of Canada upped their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an "outperform" rating in a report on Friday, October 18th. Keefe, Bruyette & Woods raised their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $19.16.

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.