Westfield Capital Management Co. LP Has $31.75 Million Position in KeyCorp (NYSE:KEY)

Westfield Capital Management Co. LP reduced its stake in KeyCorp (NYSE:KEY - Free Report) by 14.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,895,726 shares of the financial services provider's stock after selling 332,673 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.19% of KeyCorp worth $31,753,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Advocates Investment Management grew its position in KeyCorp by 2.3% in the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider's stock worth $450,000 after acquiring an additional 602 shares during the period. HM Payson & Co. grew its holdings in shares of KeyCorp by 27.0% during the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider's stock worth $51,000 after purchasing an additional 650 shares during the period. Graypoint LLC increased its position in shares of KeyCorp by 4.7% during the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider's stock worth $250,000 after purchasing an additional 675 shares during the last quarter. Vontobel Holding Ltd. increased its position in shares of KeyCorp by 2.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider's stock worth $565,000 after purchasing an additional 679 shares during the last quarter. Finally, Empirical Finance LLC raised its holdings in KeyCorp by 2.2% in the 3rd quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider's stock valued at $542,000 after buying an additional 705 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Performance

NYSE KEY traded up $0.21 during trading hours on Monday, reaching $19.81. The company's stock had a trading volume of 8,793,357 shares, compared to its average volume of 13,764,084. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The business has a 50-day simple moving average of $17.62 and a 200 day simple moving average of $16.00. KeyCorp has a 52 week low of $11.64 and a 52 week high of $20.04. The stock has a market cap of $19.64 billion, a PE ratio of 1,981.00, a PEG ratio of 1.08 and a beta of 1.24.

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 for the quarter, beating 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 firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. Equities research analysts predict that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp's dividend payout ratio (DPR) is presently 8,200.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock an "outperform" rating in a report on Friday, October 18th. Evercore ISI upped their price target on KeyCorp from $18.50 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. Jefferies Financial Group lifted their price objective on KeyCorp from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Monday, August 19th. Wells Fargo & Company boosted their price objective on KeyCorp from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Finally, UBS Group lifted their target price on KeyCorp from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, KeyCorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.03.

Insider Activity

In other news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value 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 trade represents a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Angela G. Mago sold 15,011 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were 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. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is owned by insiders.

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.