Diamond Hill Capital Management Inc. Sells 285,893 Shares of KeyCorp (NYSE:KEY)

Diamond Hill Capital Management Inc. decreased its position in KeyCorp (NYSE:KEY - Free Report) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,009,895 shares of the financial services provider's stock after selling 285,893 shares during the period. Diamond Hill Capital Management Inc. owned about 2.12% of KeyCorp worth $335,166,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board raised its holdings in shares of KeyCorp by 8.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider's stock worth $342,924,000 after buying an additional 1,748,633 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of KeyCorp by 23.2% in the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider's stock worth $176,631,000 after buying an additional 2,339,454 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 worth $149,299,000 after buying an additional 300,339 shares in the last quarter. Ceredex Value Advisors LLC raised its holdings in shares of KeyCorp by 112.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider's stock worth $94,459,000 after buying an additional 3,517,755 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of KeyCorp by 60.4% in the 2nd quarter. Sei Investments Co. now owns 5,015,642 shares of the financial services provider's stock worth $71,272,000 after buying an additional 1,887,965 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

KeyCorp Stock Up 2.3 %

Shares of KEY traded up $0.43 during midday trading on Monday, hitting $19.40. The stock had a trading volume of 2,651,297 shares, compared to its average volume of 14,040,517. The company has a 50 day simple moving average of $16.96 and a two-hundred day simple moving average of $15.66. KeyCorp has a twelve month low of $10.73 and a twelve month high of $20.00. The firm has a market cap of $19.23 billion, a price-to-earnings ratio of 1,940.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88.

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 (EPS) for the quarter, beating 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, analysts anticipate that KeyCorp will post 1.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KEY. DA Davidson increased their target price on KeyCorp from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Citigroup cut KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 price target for the company. in a report on Thursday. Barclays raised their price target on KeyCorp from $16.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. The Goldman Sachs Group set a $19.00 price target on KeyCorp in a report on Thursday, October 17th. Finally, Royal Bank of Canada raised their price target on KeyCorp from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, KeyCorp has an average rating of "Moderate Buy" and an average price target of $17.79.

Insider Buying and Selling

In other news, insider Angela G. Mago sold 15,011 shares of the business'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 sale, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Angela G. Mago sold 15,011 shares of the business'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 sale, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the director now owns 37,864 shares of the company's stock, valued at approximately $648,988.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,011 shares of company stock worth $610,425. Company insiders own 0.61% of the company's stock.

About KeyCorp

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.