Premier Fund Managers Ltd Takes Position in KeyCorp (NYSE:KEY)

Premier Fund Managers Ltd purchased a new stake in shares of KeyCorp (NYSE:KEY - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 418,500 shares of the financial services provider's stock, valued at approximately $6,949,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in KeyCorp by 280.3% during the 3rd 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 during the period. Ceredex Value Advisors LLC boosted its stake in shares of KeyCorp by 112.4% during the second quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider's stock valued at $94,459,000 after purchasing an additional 3,517,755 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of 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 period. Victory Capital Management Inc. raised its holdings in 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 buying an additional 2,790,192 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in KeyCorp during the 2nd quarter valued at $33,273,000. 79.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 transaction, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares of the company's stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by insiders.

KeyCorp Stock Performance

Shares of NYSE KEY traded down $0.03 during midday trading on Wednesday, hitting $18.97. 1,615,483 shares of the stock traded hands, compared to its average volume of 13,828,559. 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 one year low of $11.64 and a one year high of $20.00. The firm has a market capitalization of $18.80 billion, a P/E ratio of 1,895.00, a PEG ratio of 1.06 and a beta of 1.24. The firm has a 50-day moving average of $17.36 and a two-hundred day moving average of $15.88.

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

Analysts Set New Price Targets

KEY has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on KeyCorp from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Monday, August 19th. Citigroup downgraded shares of KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 price objective on the stock. in a research report on Thursday, November 7th. Wedbush increased their target price on KeyCorp from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 24th. Morgan Stanley raised their price objective on KeyCorp from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 14th. Finally, DA Davidson upped their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.03.

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.