Zurcher Kantonalbank Zurich Cantonalbank Decreases Stake in KeyCorp (NYSE:KEY)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of KeyCorp (NYSE:KEY) by 32.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 747,988 shares of the financial services provider’s stock after selling 355,678 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in KeyCorp were worth $12,529,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KEY. Glenmede Trust Co. NA grew its stake in shares of KeyCorp by 14.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 67,102 shares of the financial services provider’s stock worth $1,124,000 after purchasing an additional 8,399 shares during the period. Townsquare Capital LLC boosted its holdings in KeyCorp by 34.0% during the third quarter. Townsquare Capital LLC now owns 34,715 shares of the financial services provider’s stock worth $581,000 after buying an additional 8,814 shares in the last quarter. Brooklyn Investment Group acquired a new position in KeyCorp during the third quarter worth about $81,000. Quantbot Technologies LP increased its holdings in KeyCorp by 80.9% in the third quarter. Quantbot Technologies LP now owns 554,646 shares of the financial services provider’s stock valued at $9,290,000 after buying an additional 248,090 shares in the last quarter. Finally, Prospector Partners LLC acquired a new stake in shares of KeyCorp during the 3rd quarter valued at approximately $9,630,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Activity at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were 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. This represents a 6.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now directly owns 37,864 shares in the company, 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. 0.61% of the stock is owned by insiders.

KeyCorp Price Performance

KEY stock opened at $19.48 on Friday. The stock has a market capitalization of $19.31 billion, a price-to-earnings ratio of 1,948.00, a price-to-earnings-growth ratio of 1.07 and a beta of 1.24. The stock’s fifty day simple moving average is $17.83 and its 200-day simple moving average is $16.12. KeyCorp has a 52-week low of $12.22 and a 52-week high of $20.04. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Equities research analysts expect that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp’s dividend payout ratio (DPR) is currently 8,200.00%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on KEY. Evercore ISI raised their price objective on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $17.00 in a research report on Monday, October 14th. Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research note on Thursday, November 7th. Jefferies Financial Group increased their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Finally, Wedbush lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.26.

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.