Pitcairn Co. Grows Position in KeyCorp (NYSE:KEY)

Pitcairn Co. lifted its stake in shares of KeyCorp (NYSE:KEY) by 9.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,871 shares of the financial services provider’s stock after purchasing an additional 1,247 shares during the quarter. Pitcairn Co.’s holdings in KeyCorp were worth $232,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in KEY. B. Riley Wealth Advisors Inc. grew its holdings in shares of KeyCorp by 13.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 49,007 shares of the financial services provider’s stock worth $775,000 after acquiring an additional 5,824 shares during the period. California State Teachers Retirement System raised its position in KeyCorp by 0.7% during the first quarter. California State Teachers Retirement System now owns 1,500,518 shares of the financial services provider’s stock worth $23,723,000 after acquiring an additional 10,487 shares during the last quarter. Comerica Bank lifted its holdings in shares of KeyCorp by 124.1% in the first quarter. Comerica Bank now owns 849,551 shares of the financial services provider’s stock valued at $13,431,000 after purchasing an additional 470,520 shares in the last quarter. Swedbank AB acquired a new stake in shares of KeyCorp in the first quarter valued at approximately $8,203,000. Finally, PGGM Investments purchased a new position in KeyCorp during the first quarter worth $179,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares in the company, valued at $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 available at this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction that occurred 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 $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. Corporate insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KEY shares. UBS Group boosted 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. Jefferies Financial Group increased their target price on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. DA Davidson boosted their target price on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 21st. Baird R W lowered shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada increased their target price on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. 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, the company has an average rating of “Moderate Buy” and a consensus target price of $18.26.

KeyCorp Price Performance

Shares of KEY stock opened at $19.52 on Thursday. KeyCorp has a twelve month low of $11.64 and a twelve month high of $20.04. 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 company has a market capitalization of $19.35 billion, a PE ratio of 1,952.00, a price-to-earnings-growth ratio of 1.09 and a beta of 1.24. The firm has a fifty day simple moving average of $17.74 and a 200-day simple moving average of $16.06.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping 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. Equities research analysts anticipate that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be paid a $0.205 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.20%. KeyCorp’s dividend payout ratio (DPR) is presently 8,200.00%.

KeyCorp 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.