State Street Corp Raises Stock Holdings in KeyCorp (NYSE:KEY)

State Street Corp increased its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 0.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,943,073 shares of the financial services provider's stock after purchasing an additional 29,554 shares during the quarter. State Street Corp owned 4.63% of KeyCorp worth $769,546,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its position in KeyCorp by 87.5% in the 2nd 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 acquiring an additional 610,688 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in KeyCorp by 14.8% in the 3rd 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 acquired a new position in KeyCorp in the 2nd quarter valued at about $981,000. Dai ichi Life Insurance Company Ltd acquired a new position in KeyCorp in the 3rd quarter valued at about $798,000. Finally, Prospector Partners LLC acquired a new position in KeyCorp in the 3rd quarter valued at about $9,630,000. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Performance

Shares of NYSE:KEY traded down $0.32 during trading on Monday, reaching $18.55. The company had a trading volume of 7,997,843 shares, compared to its average volume of 13,537,980. The firm has a market capitalization of $18.38 billion, a price-to-earnings ratio of 1,861.00, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock's fifty day moving average price is $18.06 and its 200 day moving average price is $16.25. KeyCorp has a fifty-two week low of $12.94 and a fifty-two week high of $20.04.

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 analyst estimates of $1.59 billion. As a group, equities research analysts predict that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The firm 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. This represents a $0.82 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Tuesday, December 3rd. KeyCorp's dividend payout ratio is presently 8,200.00%.

Insider Buying and Selling

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the business's stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the business's stock in a transaction 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 in the company, valued at approximately $648,988.96. The trade was 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 corporate insiders.

Analyst Upgrades and Downgrades

KEY has been the subject of several research reports. Evercore ISI lifted their target price on KeyCorp from $18.50 to $20.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. Barclays lifted their price objective on KeyCorp from $16.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Robert W. Baird cut KeyCorp from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Royal Bank of Canada lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the company an "outperform" rating in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods lifted their price objective on KeyCorp from $19.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.