Nwam LLC Boosts Stake in KeyCorp (NYSE:KEY)

Nwam LLC lifted its stake in shares of KeyCorp (NYSE:KEY) by 17.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 18,719 shares of the financial services provider’s stock after acquiring an additional 2,821 shares during the period. Nwam LLC’s holdings in KeyCorp were worth $314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in KeyCorp by 87.5% during the second 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 acquiring an additional 610,688 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in KeyCorp by 14.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after purchasing an additional 85,052 shares during the period. MBB Public Markets I LLC bought a new stake in KeyCorp in the second quarter worth $981,000. Cetera Investment Advisers boosted its position in KeyCorp by 274.4% during the first quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock valued at $5,251,000 after buying an additional 243,437 shares during the period. Finally, Gateway Investment Advisers LLC grew its stake in shares of KeyCorp by 92.6% during the second quarter. Gateway Investment Advisers LLC now owns 302,681 shares of the financial services provider’s stock valued at $4,301,000 after buying an additional 145,555 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Stock Up 1.1 %

KeyCorp stock opened at $19.81 on Tuesday. KeyCorp has a one year low of $11.64 and a one year high of $20.04. The stock has a fifty day moving average of $17.62 and a 200 day moving average of $16.00. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $19.64 billion, a PE ratio of 1,981.00, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations 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 predict that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s payout ratio is 8,200.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KEY shares. Wells Fargo & Company increased their target price on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group set a $19.00 price objective on KeyCorp in a research note on Thursday, October 17th. DA Davidson lifted their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group raised their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Finally, Barclays raised their target price on KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.03.

Insider Transactions at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now directly owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by company 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.