BNP Paribas Financial Markets Decreases Position in KeyCorp (NYSE:KEY)

BNP Paribas Financial Markets trimmed its holdings in shares of KeyCorp (NYSE:KEY) by 3.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,437,948 shares of the financial services provider’s stock after selling 46,417 shares during the period. BNP Paribas Financial Markets owned about 0.15% of KeyCorp worth $24,086,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Pathway Financial Advisers LLC purchased a new stake in KeyCorp during the 1st quarter valued at about $25,000. Wolff Wiese Magana LLC boosted its stake in shares of KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,142 shares during the period. American Capital Advisory LLC bought a new position in shares of KeyCorp in the third quarter worth approximately $28,000. Larson Financial Group LLC increased its stake in shares of KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after buying an additional 918 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new stake in KeyCorp during the 3rd quarter valued at $35,000. 79.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KEY has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a research report on Tuesday, September 10th. Royal Bank of Canada lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Company upped 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. Finally, UBS Group lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.26.

Insider Buying and Selling

In other news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was 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 of the company’s stock, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the stock in a transaction on Wednesday, November 6th. The shares were 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 $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

KeyCorp Trading Down 0.2 %

KeyCorp stock opened at $19.48 on Friday. KeyCorp has a 12 month low of $12.22 and a 12 month high of $20.04. The company 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 business’s fifty day simple moving average is $17.83 and its two-hundred day simple moving average is $16.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The company 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, equities analysts predict that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.205 per share. 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%.

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.