Jacobs Levy Equity Management Inc. Buys 71,290 Shares of KeyCorp (NYSE:KEY)

Jacobs Levy Equity Management Inc. raised its stake in shares of KeyCorp (NYSE:KEY) by 3.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,138,140 shares of the financial services provider’s stock after acquiring an additional 71,290 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.22% of KeyCorp worth $35,814,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its holdings in KeyCorp by 87.5% during the 2nd 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 purchasing an additional 610,688 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of KeyCorp by 14.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock valued at $10,928,000 after acquiring an additional 85,052 shares during the last quarter. MBB Public Markets I LLC acquired a new position in shares of KeyCorp in the 2nd quarter worth approximately $981,000. Dai ichi Life Insurance Company Ltd bought a new stake in KeyCorp during the 3rd quarter worth approximately $798,000. Finally, Cetera Investment Advisers increased its holdings in KeyCorp by 274.4% during the 1st quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock valued at $5,251,000 after purchasing an additional 243,437 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

KEY has been the topic of several research analyst reports. Royal Bank of Canada increased their target price on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Evercore ISI increased their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Wedbush boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a research note on Tuesday, September 10th. Finally, Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Nine 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.com, KeyCorp currently has an average rating of “Moderate Buy” and an average target price of $18.56.

Insider Buying and Selling at KeyCorp

In other KeyCorp 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. This trade represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

KeyCorp Stock Performance

Shares of NYSE:KEY opened at $18.79 on Wednesday. The firm’s 50 day simple moving average is $17.92 and its 200 day simple moving average is $16.17. KeyCorp has a fifty-two week low of $12.76 and a fifty-two week high of $20.04. The company has a market capitalization of $18.63 billion, a price-to-earnings ratio of 1,879.00, a P/E/G ratio of 1.05 and a beta of 1.25. 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 (NYSE:KEY) last posted its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $1.60 billion for 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%. As a group, sell-side analysts forecast that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.205 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.82 annualized dividend and a yield of 4.36%. KeyCorp’s dividend payout ratio is presently 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.