KeyCorp (KEY) Holdings Boosted by Point72 Asset Management L.P.

Point72 Asset Management L.P. boosted its stake in shares of KeyCorp (NYSE:KEY) by 321.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,054,941 shares of the financial services provider’s stock after purchasing an additional 804,841 shares during the period. Point72 Asset Management L.P. owned approximately 0.10% of KeyCorp worth $19,854,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of KEY. Zions Bancorporation increased its position in shares of KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 5,466 shares in the last quarter. Bank of Nova Scotia Trust Co. acquired a new stake in shares of KeyCorp in the third quarter worth $132,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of KeyCorp in the third quarter worth $145,000. Sun Life Financial INC increased its position in shares of KeyCorp by 80,370.0% in the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 8,037 shares in the last quarter. Finally, AllSquare Wealth Management LLC acquired a new stake in shares of KeyCorp in the third quarter worth $173,000. 81.20% of the stock is currently owned by institutional investors.

KeyCorp (KEY) traded down $0.18 during midday trading on Friday, reaching $19.52. 8,270,400 shares of the company’s stock were exchanged, compared to its average volume of 10,957,235. KeyCorp has a 12-month low of $16.28 and a 12-month high of $20.15. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.06. The company has a market cap of $21,185.38, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 1.79 and a beta of 1.10.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.35. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the firm posted $0.30 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year. research analysts predict that KeyCorp will post 1.37 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.15%. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, November 27th. KeyCorp’s dividend payout ratio is 36.84%.

In other news, General Counsel Paul N. Harris sold 2,758 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total value of $51,133.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Andrew J. Paine III sold 46,854 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total transaction of $869,610.24. Following the completion of the transaction, the insider now owns 110,052 shares in the company, valued at $2,042,565.12. The disclosure for this sale can be found here. Insiders have sold a total of 57,212 shares of company stock worth $1,060,508 over the last quarter. 0.65% of the stock is currently owned by insiders.

KEY has been the subject of several recent research reports. Sanford C. Bernstein reissued an “outperform” rating and issued a $22.00 price objective on shares of KeyCorp in a research report on Wednesday, September 27th. Morgan Stanley reissued an “overweight” rating and issued a $23.00 price objective on shares of KeyCorp in a research report on Thursday. ValuEngine raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Oppenheimer reissued a “hold” rating on shares of KeyCorp in a research report on Friday, October 20th. Finally, Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $21.28.

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KeyCorp Profile

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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