Y Intercept Hong Kong Ltd Purchases 73,384 Shares of KeyCorp (NYSE:KEY)

Y Intercept Hong Kong Ltd increased its stake in KeyCorp (NYSE:KEY - Free Report) by 60.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 194,629 shares of the financial services provider's stock after buying an additional 73,384 shares during the period. Y Intercept Hong Kong Ltd's holdings in KeyCorp were worth $3,260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its stake in KeyCorp by 87.5% during 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 purchasing an additional 610,688 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of KeyCorp by 14.8% during the third 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 buying an additional 85,052 shares during the last quarter. MBB Public Markets I LLC bought a new stake in KeyCorp in the 2nd quarter worth about $981,000. Dai ichi Life Insurance Company Ltd bought a new stake in KeyCorp in the 3rd quarter worth about $798,000. Finally, Prospector Partners LLC purchased a new position in KeyCorp in the 3rd quarter worth about $9,630,000. Institutional investors own 79.69% of the company's stock.

Insider Activity

In other news, Director Carlton L. Highsmith sold 9,000 shares of the business's 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 sale, the director now directly owns 37,864 shares in the company, valued at $648,988.96. The trade was a 19.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the stock in a transaction dated Wednesday, November 6th. The shares were 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 of the company's stock, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KEY. Piper Sandler increased their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Royal Bank of Canada boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an "outperform" rating in a research note on Friday, October 18th. DA Davidson raised their price target on KeyCorp from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Citigroup cut KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 price objective for the company. in a research report on Thursday, November 7th. Finally, UBS Group raised their target price on KeyCorp from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, KeyCorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.16.

KeyCorp Price Performance

Shares of NYSE:KEY traded down $0.12 during trading on Tuesday, hitting $18.42. 12,963,002 shares of the company's stock were exchanged, compared to its average volume of 13,535,556. The business's 50-day simple moving average is $18.10 and its 200 day simple moving average is $16.28. The company has a market cap of $18.25 billion, a price-to-earnings ratio of 1,841.50, a PEG ratio of 1.04 and a beta of 1.25. KeyCorp has a 52-week low of $12.94 and a 52-week high of $20.04. 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 (NYSE:KEY - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.59 billion. As a group, equities analysts predict that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp's dividend payout ratio (DPR) is presently 8,200.00%.

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.