Caprock Group LLC Takes $354,000 Position in KeyCorp (NYSE:KEY)

Caprock Group LLC acquired a new position in KeyCorp (NYSE:KEY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,116 shares of the financial services provider’s stock, valued at approximately $354,000.

Other large investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in shares of KeyCorp by 21.4% in the first quarter. Bessemer Group Inc. now owns 14,512 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 2,559 shares in the last quarter. Axxcess Wealth Management LLC purchased a new stake in shares of KeyCorp during the 1st quarter valued at about $488,000. Magnetar Financial LLC bought a new position in shares of KeyCorp during the 1st quarter valued at approximately $170,000. Kestra Advisory Services LLC increased its position in KeyCorp by 13.5% during the first quarter. Kestra Advisory Services LLC now owns 897,701 shares of the financial services provider’s stock valued at $14,193,000 after acquiring an additional 106,946 shares during the last quarter. Finally, BOKF NA raised its position in KeyCorp by 4,418.1% in the 1st quarter. BOKF NA now owns 198,075 shares of the financial services provider’s stock worth $3,068,000 after purchasing an additional 193,691 shares during the period. 79.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KEY shares. The Goldman Sachs Group set a $19.00 target price on shares of KeyCorp in a research note on Thursday, October 17th. Barclays raised their price target on KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Morgan Stanley lifted their price target on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research report on Tuesday, September 10th. Finally, Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Nine equities research 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.03.

KeyCorp Stock Up 2.0 %

Shares of KEY opened at $19.60 on Friday. The company has a 50-day simple moving average of $17.55 and a 200-day simple moving average of $15.96. 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 firm has a market capitalization of $19.43 billion, a P/E ratio of 1,960.00, a P/E/G ratio of 1.06 and a beta of 1.24. KeyCorp has a 52 week low of $11.64 and a 52 week high of $20.00.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. On average, equities research analysts expect that KeyCorp will post 1.09 earnings per share for the current 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 $0.205 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.18%. KeyCorp’s dividend payout ratio is 8,200.00%.

Insider Transactions at KeyCorp

In other KeyCorp 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 transaction, the insider now owns 234,582 shares in the company, 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 SEC, which is available at this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’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 transaction of $154,260.00. Following the sale, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

KeyCorp Company 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.