Victory Capital Management Inc. Boosts Stake in KeyCorp (NYSE:KEY)

Victory Capital Management Inc. boosted its stake in KeyCorp (NYSE:KEY - Free Report) by 279.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,788,173 shares of the financial services provider's stock after purchasing an additional 2,790,192 shares during the quarter. Victory Capital Management Inc. owned about 0.40% of KeyCorp worth $63,452,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of KEY. Ontario Teachers Pension Plan Board boosted its holdings in 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 acquiring an additional 1,748,633 shares during the period. Diamond Hill Capital Management Inc. raised its position in KeyCorp by 12.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider's stock worth $288,403,000 after acquiring an additional 2,213,872 shares in the last quarter. Earnest Partners LLC lifted its position in shares of KeyCorp by 23.2% during the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider's stock valued at $176,631,000 after acquiring an additional 2,339,454 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of KeyCorp by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider's stock valued at $149,299,000 after acquiring an additional 300,339 shares during the period. Finally, Ceredex Value Advisors LLC boosted its position in KeyCorp by 112.4% during 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 acquiring an additional 3,517,755 shares during the period. Institutional investors and hedge funds own 79.69% of the company's stock.

Insider Activity

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the sale, the insider now owns 234,582 shares of the company's stock, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now directly owns 37,864 shares of the company's stock, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company's stock.

KeyCorp Trading Down 0.6 %

Shares of KeyCorp stock traded down $0.11 on Friday, hitting $19.03. 2,968,461 shares of the company's stock traded hands, compared to its average volume of 13,912,987. The company has a market capitalization of $18.86 billion, a price-to-earnings ratio of 1,901.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. The company has a fifty day moving average of $17.16 and a two-hundred day moving average of $15.77. 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 has a one year low of $11.64 and a one year high of $20.00.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. As a group, sell-side analysts expect that KeyCorp will post 1.08 earnings per share for the current year.

Wall Street Analyst Weigh In

KEY has been the subject of a number of analyst reports. UBS Group lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Morgan Stanley raised their target price on KeyCorp from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Wednesday, August 14th. Royal Bank of Canada increased 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. Evercore ISI raised their target price on shares of KeyCorp from $18.50 to $20.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird downgraded KeyCorp from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $18.03.

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.