Capital World Investors Has $388.55 Million Stock Position in KeyCorp $KEY

Capital World Investors lifted its stake in shares of KeyCorp (NYSE:KEY) by 169.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,788,957 shares of the financial services provider’s stock after purchasing an additional 13,067,326 shares during the period. Capital World Investors owned 1.90% of KeyCorp worth $388,546,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Kingsview Wealth Management LLC increased its holdings in KeyCorp by 2.7% during the third quarter. Kingsview Wealth Management LLC now owns 21,255 shares of the financial services provider’s stock worth $397,000 after buying an additional 568 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its stake in KeyCorp by 4.1% in the third quarter. NorthCrest Asset Manangement LLC now owns 15,912 shares of the financial services provider’s stock valued at $293,000 after acquiring an additional 627 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in KeyCorp by 0.4% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 154,818 shares of the financial services provider’s stock valued at $2,894,000 after acquiring an additional 660 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of KeyCorp by 0.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 81,236 shares of the financial services provider’s stock valued at $1,518,000 after acquiring an additional 694 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of KeyCorp by 14.9% during the 3rd quarter. Parallel Advisors LLC now owns 6,379 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 827 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Trina M. Evans sold 32,695 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total value of $710,789.30. Following the completion of the sale, the director directly owned 58,719 shares in the company, valued at $1,276,551.06. The trade was a 35.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Angela G. Mago sold 62,850 shares of the company’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $21.55, for a total value of $1,354,417.50. Following the completion of the transaction, the insider directly owned 261,415 shares in the company, valued at approximately $5,633,493.25. This represents a 19.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 161,506 shares of company stock valued at $3,597,481. Insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of KeyCorp from $22.00 to $24.50 and gave the company a “neutral” rating in a report on Monday, February 9th. Wells Fargo & Company set a $18.00 price target on KeyCorp and gave the stock an “underperform” rating in a research report on Tuesday, January 6th. TD Cowen restated a “buy” rating on shares of KeyCorp in a research note on Wednesday, January 7th. Argus raised their price objective on KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group lifted their target price on KeyCorp from $19.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, December 10th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.03.

KeyCorp Stock Down 0.7%

Shares of KEY opened at $19.63 on Thursday. The firm has a market cap of $21.39 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 0.59 and a beta of 1.08. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83. KeyCorp has a 52 week low of $12.73 and a 52 week high of $23.34. The firm’s 50-day simple moving average is $21.38 and its 200 day simple moving average is $19.67.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the business posted $0.30 earnings per share. The business’s revenue for the quarter was up 131.8% compared to the same quarter last year. On average, analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, March 3rd. KeyCorp’s dividend payout ratio (DPR) is presently 53.95%.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.