Brooklyn Investment Group Makes New Investment in KeyCorp (NYSE:KEY)

Brooklyn Investment Group bought a new stake in KeyCorp (NYSE:KEY) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,808 shares of the financial services provider’s stock, valued at approximately $81,000.

A number of other hedge funds have also recently added to or reduced their stakes in KEY. Pathway Financial Advisers LLC purchased a new position in shares of KeyCorp during the first quarter worth approximately $25,000. Wolff Wiese Magana LLC grew its position 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 worth $26,000 after purchasing an additional 1,142 shares during the last quarter. American Capital Advisory LLC acquired a new position in KeyCorp in the third quarter valued at $28,000. Larson Financial Group LLC raised 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 valued at $32,000 after buying an additional 918 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of KeyCorp during the third quarter worth about $35,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY opened at $19.52 on Friday. The company has a 50-day moving average of $17.79 and a two-hundred day moving average of $16.08. The stock has a market cap of $19.35 billion, a P/E ratio of 1,952.00, a PEG ratio of 1.07 and a beta of 1.24. 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 has a 12-month low of $11.64 and a 12-month high of $20.04.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data 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. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. As a group, research analysts predict that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.20%. KeyCorp’s dividend payout ratio (DPR) is 8,200.00%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KEY. Wells Fargo & Company increased their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays increased 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. Wedbush boosted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Morgan Stanley raised their target price on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a report on Tuesday, September 10th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.26.

Insiders Place Their Bets

In other news, insider Angela G. Mago sold 15,011 shares of the 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 in the company, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, 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 position. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

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.