Point72 Europe London LLP Sells 1,221,289 Shares of KeyCorp (NYSE:KEY)

Point72 Europe London LLP trimmed its position in shares of KeyCorp (NYSE:KEY) by 81.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 275,093 shares of the financial services provider’s stock after selling 1,221,289 shares during the quarter. Point72 Europe London LLP’s holdings in KeyCorp were worth $4,608,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its position in shares of KeyCorp by 280.3% during the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock valued at $83,364,000 after purchasing an additional 3,668,168 shares in the last quarter. Ceredex Value Advisors LLC boosted its holdings in shares of KeyCorp by 112.4% during the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after buying an additional 3,517,755 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of KeyCorp by 108.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after buying an additional 3,042,060 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of KeyCorp by 164.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock worth $78,066,000 after acquiring an additional 2,900,971 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in KeyCorp by 279.6% during the 3rd quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock valued at $63,452,000 after acquiring an additional 2,790,192 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

KEY has been the subject of a number of analyst reports. Evercore ISI raised their target price on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. DA Davidson lifted their price objective on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Morgan Stanley increased their target price on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a report on Thursday, November 7th. Finally, Barclays upped their price target on shares of KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average target price of $18.26.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp 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 in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

KeyCorp Price Performance

NYSE KEY 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 PEG ratio of 1.07 and a beta of 1.24. KeyCorp has a 1-year low of $12.22 and a 1-year high of $20.04. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The business’s fifty day moving average price is $17.83 and its 200-day moving average price is $16.11.

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

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp’s payout ratio is 8,200.00%.

About KeyCorp

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.