The Manufacturers Life Insurance Company Sells 9,914 Shares of KeyCorp (NYSE:KEY)

The Manufacturers Life Insurance Company lowered its position in KeyCorp (NYSE:KEY) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,931,947 shares of the financial services provider’s stock after selling 9,914 shares during the period. The Manufacturers Life Insurance Company owned 0.30% of KeyCorp worth $49,110,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of KeyCorp by 87.5% in the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock valued at $18,598,000 after acquiring an additional 610,688 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in KeyCorp by 14.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after purchasing an additional 85,052 shares during the last quarter. MBB Public Markets I LLC bought a new position in KeyCorp in the 2nd quarter worth approximately $981,000. Cetera Investment Advisers raised its position in KeyCorp by 274.4% in the 1st quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock worth $5,251,000 after purchasing an additional 243,437 shares during the last quarter. Finally, Gateway Investment Advisers LLC raised its position in KeyCorp by 92.6% in the 2nd quarter. Gateway Investment Advisers LLC now owns 302,681 shares of the financial services provider’s stock worth $4,301,000 after purchasing an additional 145,555 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling

In other news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. This represents a 6.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction dated 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 owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

Shares of KEY stock opened at $19.52 on Friday. KeyCorp has a 12-month low of $11.64 and a 12-month high of $20.04. The firm has a market capitalization of $19.35 billion, a price-to-earnings ratio of 1,952.00, a price-to-earnings-growth 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. The firm has a fifty day moving average of $17.79 and a 200-day moving average of $16.08.

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, beating the consensus estimate of $0.27 by $0.03. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. On average, equities research analysts forecast that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp’s payout ratio is presently 8,200.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research report on Tuesday, September 10th. Evercore ISI boosted their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Citigroup cut shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and a consensus price target of $18.26.

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.