Greenwood Capital Associates LLC Increases Stake in KeyCorp (NYSE:KEY)

Greenwood Capital Associates LLC raised its stake in shares of KeyCorp (NYSE:KEY) by 15.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,517 shares of the financial services provider’s stock after purchasing an additional 10,867 shares during the quarter. Greenwood Capital Associates LLC’s holdings in KeyCorp were worth $1,414,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Azora Capital LP acquired a new stake in shares of KeyCorp in the third quarter worth $92,413,000. Assenagon Asset Management S.A. increased its holdings in shares of KeyCorp by 280.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock valued at $83,364,000 after purchasing an additional 3,668,168 shares in the last quarter. Thrivent Financial for Lutherans grew its position in KeyCorp by 108.3% during the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock valued at $98,025,000 after buying an additional 3,042,060 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in KeyCorp by 164.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock valued at $78,066,000 after buying an additional 2,900,971 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of KeyCorp by 279.6% in the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock worth $63,452,000 after acquiring an additional 2,790,192 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

KEY has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.50 target price on shares of KeyCorp in a report on Monday. The Goldman Sachs Group upped their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. UBS Group boosted their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Nine research 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.69.

Insider Transactions at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This represents a 6.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.67% of the company’s stock.

KeyCorp Stock Performance

NYSE:KEY opened at $17.63 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The company has a 50 day moving average price of $17.89 and a 200 day moving average price of $17.21. KeyCorp has a fifty-two week low of $13.10 and a fifty-two week high of $20.04. The stock has a market capitalization of $17.47 billion, a P/E ratio of -58.60, a PEG ratio of 0.66 and a beta of 1.26.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 4.65%. KeyCorp’s dividend payout ratio is currently -273.32%.

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.