Assenagon Asset Management S.A. Decreases Stock Holdings in KeyCorp (NYSE:KEY)

Assenagon Asset Management S.A. lowered its position in KeyCorp (NYSE:KEY) by 47.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,619,344 shares of the financial services provider’s stock after selling 2,357,621 shares during the period. Assenagon Asset Management S.A.’s holdings in KeyCorp were worth $44,896,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of KEY. Financial Advocates Investment Management boosted its stake in KeyCorp by 2.3% in the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after acquiring an additional 602 shares in the last quarter. HM Payson & Co. boosted its position in shares of KeyCorp by 27.0% in the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 650 shares in the last quarter. Graypoint LLC grew its stake in KeyCorp by 4.7% during the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after buying an additional 675 shares during the last quarter. Vontobel Holding Ltd. increased its position in KeyCorp by 2.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock valued at $565,000 after buying an additional 679 shares in the last quarter. Finally, Empirical Finance LLC boosted its holdings in KeyCorp by 2.2% in the third quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock worth $542,000 after acquiring an additional 705 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $17.85 on Friday. The company has a market capitalization of $17.69 billion, a PE ratio of 1,784.50, a price-to-earnings-growth ratio of 0.63 and a beta of 1.27. 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 company’s fifty day moving average price is $18.22 and its 200 day moving average price is $16.94. KeyCorp has a 1 year low of $12.94 and a 1 year high of $20.04.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 8.24% and a net margin of 0.76%. On average, research analysts predict that KeyCorp will post 1.1 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.60%. KeyCorp’s payout ratio is currently 8,200.00%.

Insider Transactions at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of KeyCorp 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 sale, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s 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 of the company’s stock, valued at approximately $648,988.96. This trade represents 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Evercore ISI upped their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $18.00 to $17.00 in a report on Monday, October 14th. DA Davidson boosted their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 21st. Piper Sandler raised their target price on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.44.

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.