OneAscent Financial Services LLC Acquires New Stake in KeyCorp (NYSE:KEY)

OneAscent Financial Services LLC bought a new stake in shares of KeyCorp (NYSE:KEY - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 29,401 shares of the financial services provider's stock, valued at approximately $492,000.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in KeyCorp by 280.3% during 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 purchasing an additional 3,668,168 shares during the last quarter. Ceredex Value Advisors LLC grew its position in KeyCorp by 112.4% in the second 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 during the last quarter. Thrivent Financial for Lutherans grew its position in KeyCorp by 108.3% in 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 buying an additional 3,042,060 shares during the last quarter. Victory Capital Management Inc. grew its position in KeyCorp by 279.6% in the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider's stock worth $63,452,000 after buying an additional 2,790,192 shares during the last quarter. Finally, National Bank of Canada FI grew its position in KeyCorp by 1,051.3% in the first quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider's stock worth $38,752,000 after buying an additional 2,346,565 shares during the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Performance

NYSE:KEY traded down $0.23 during mid-day trading on Tuesday, hitting $19.00. 8,822,777 shares of the company's stock traded hands, compared to its average volume of 13,877,316. The firm has a 50 day moving average of $17.36 and a two-hundred day moving average of $15.88. KeyCorp has a 12 month low of $11.64 and a 12 month high of $20.00. The firm has a market capitalization of $18.83 billion, a price-to-earnings ratio of 1,900.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping 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 company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. On average, equities analysts forecast that KeyCorp will post 1.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KEY has been the subject of several analyst reports. DA Davidson upped their target price on KeyCorp from $19.00 to $20.00 and gave the company a "buy" rating in a report on Monday, October 21st. UBS Group upped their target price on KeyCorp from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Barclays upped their target price on KeyCorp from $16.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Wedbush upped their target price on KeyCorp from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Tuesday, September 24th. Finally, Royal Bank of Canada upped their price target on KeyCorp from $17.00 to $18.00 and gave the company an "outperform" rating in a research report on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.03.

Insider Activity at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the sale, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated 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 directly owns 37,864 shares in the company, valued at approximately $648,988.96. This 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.

KeyCorp 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.