Everence Capital Management Inc. Boosts Stock Position in KeyCorp (NYSE:KEY)

Everence Capital Management Inc. grew its holdings in shares of KeyCorp (NYSE:KEY) by 25.3% in the 4th quarter, HoldingsChannel reports. The firm owned 41,320 shares of the financial services provider’s stock after acquiring an additional 8,330 shares during the quarter. Everence Capital Management Inc.’s holdings in KeyCorp were worth $708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Azora Capital LP purchased a new stake in KeyCorp during the third quarter worth about $92,413,000. Assenagon Asset Management S.A. grew its position in shares of KeyCorp by 280.3% during the 3rd 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 acquiring an additional 3,668,168 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of KeyCorp by 108.3% during 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 purchasing an additional 3,042,060 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of KeyCorp by 164.9% during 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 purchasing an additional 2,900,971 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of KeyCorp by 279.6% in the 3rd quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock worth $63,452,000 after purchasing an additional 2,790,192 shares during the period. 79.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Angela G. Mago sold 15,011 shares of the firm’s 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on KEY. Barclays raised their target price on KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods raised their price target on KeyCorp from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $17.00 in a research report on Monday, October 14th. DA Davidson raised their target price on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Piper Sandler raised their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.16.

KeyCorp Trading Up 1.8 %

NYSE KEY opened at $17.29 on Friday. 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 stock’s 50-day simple moving average is $18.28 and its two-hundred day simple moving average is $16.71. KeyCorp has a twelve month low of $12.94 and a twelve month high of $20.04. The company 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.

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, topping analysts’ consensus estimates 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 the consensus estimate of $1.59 billion. Research analysts forecast that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend was Tuesday, December 3rd. KeyCorp’s dividend payout ratio is currently 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.