Westfield Capital Management Co. LP Trims Stock Holdings in KeyCorp (NYSE:KEY)

Westfield Capital Management Co. LP lowered its stake in shares of KeyCorp (NYSE:KEY) by 14.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,895,726 shares of the financial services provider’s stock after selling 332,673 shares during the period. Westfield Capital Management Co. LP’s holdings in KeyCorp were worth $31,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Pathway Financial Advisers LLC purchased a new stake in KeyCorp during the 1st quarter worth about $25,000. Wolff Wiese Magana LLC grew its holdings in KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,142 shares in the last quarter. American Capital Advisory LLC bought a new stake in shares of KeyCorp during the third quarter valued at about $28,000. Larson Financial Group LLC lifted its holdings 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 in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of KeyCorp in the third quarter worth about $35,000. 79.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

KEY has been the topic of a number of analyst reports. DA Davidson upped their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Morgan Stanley upped their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Royal Bank of Canada lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Tuesday, September 10th. Finally, Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Thursday, November 7th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and an average price target of $18.03.

Insider Buying and Selling

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 stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now directly owns 37,864 shares in the company, valued at $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. 0.67% of the stock is owned by insiders.

KeyCorp Stock Performance

NYSE KEY opened at $19.60 on Monday. The company has a 50-day simple moving average of $17.55 and a two-hundred day simple moving average of $15.97. KeyCorp has a 12-month low of $11.64 and a 12-month high of $20.00. The firm has a market cap of $19.43 billion, a price-to-earnings ratio of 1,960.00, a PEG ratio of 1.08 and a beta of 1.24. 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 issued its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share 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. On average, equities analysts forecast that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp’s dividend payout ratio is 8,200.00%.

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.