GAMMA Investing LLC Has $521,000 Stake in KeyCorp (NYSE:KEY)

GAMMA Investing LLC grew its holdings in shares of KeyCorp (NYSE:KEY) by 23.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 30,413 shares of the financial services provider’s stock after acquiring an additional 5,687 shares during the quarter. GAMMA Investing LLC’s holdings in KeyCorp were worth $521,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Financial Advocates Investment Management increased its stake in KeyCorp by 2.3% in the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after purchasing an additional 602 shares in the last quarter. HM Payson & Co. grew its stake in shares of KeyCorp by 27.0% in the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock valued at $51,000 after buying an additional 650 shares during the period. Graypoint LLC increased its position in KeyCorp by 4.7% in the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock valued at $250,000 after buying an additional 675 shares in the last quarter. Vontobel Holding Ltd. raised its stake in KeyCorp by 2.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after buying an additional 679 shares during the period. Finally, Empirical Finance LLC boosted its holdings in KeyCorp by 2.2% in the third quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock worth $542,000 after acquiring an additional 705 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

KeyCorp Trading Up 1.8 %

NYSE KEY opened at $17.29 on Monday. The stock has a market capitalization of $17.14 billion, a price-to-earnings ratio of 1,729.00, a PEG ratio of 1.00 and a beta of 1.25. The business’s fifty day moving average is $18.28 and its 200-day moving average is $16.76. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. KeyCorp has a one year low of $12.94 and a one year high of $20.04.

KeyCorp (NYSE:KEY) last released 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. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Equities research analysts predict that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date was Tuesday, December 3rd. KeyCorp’s dividend payout ratio is currently 8,200.00%.

Insider Buying and Selling at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. This represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on KEY. The Goldman Sachs Group boosted their price objective on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Baird R W lowered shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Citigroup downgraded 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 raised their price target 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 investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.16.

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.