Franklin Resources Inc. Acquires 319,155 Shares of KeyCorp (NYSE:KEY)

Franklin Resources Inc. raised its position in shares of KeyCorp (NYSE:KEY - Free Report) by 340.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 413,011 shares of the financial services provider's stock after purchasing an additional 319,155 shares during the period. Franklin Resources Inc.'s holdings in KeyCorp were worth $7,186,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Wolff Wiese Magana LLC raised its position in shares of KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 1,142 shares during the period. American Capital Advisory LLC purchased a new position in KeyCorp in the 3rd quarter valued at approximately $28,000. Larson Financial Group LLC raised its holdings in KeyCorp by 90.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 918 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of KeyCorp during the third quarter worth $35,000. Finally, Capital Performance Advisors LLP bought a new position in shares of KeyCorp in the third quarter worth $38,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Price Performance

Shares of NYSE KEY traded up $0.13 during trading hours on Monday, reaching $17.22. 11,099,284 shares of the stock traded hands, compared to its average volume of 13,502,625. The company has a market capitalization of $17.07 billion, a P/E ratio of 1,722.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.25. The company's 50-day simple moving average is $18.29 and its two-hundred day simple moving average is $16.51. 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 52-week low of $12.94 and a 52-week high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping 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 firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. Equities research analysts forecast that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.82 annualized dividend and a yield of 4.76%. KeyCorp's payout ratio is 8,200.00%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KEY shares. Wedbush increased their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Tuesday, September 24th. Citigroup downgraded shares of KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 price target on the stock. in a report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Wells Fargo & Company increased their target price 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. Finally, Baird R W downgraded shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Monday, October 14th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.16.

Insider Activity

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the transaction, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company's stock.

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.