Franklin Resources Inc. Purchases 319,155 Shares of KeyCorp (NYSE:KEY)

Franklin Resources Inc. increased its position in shares of KeyCorp (NYSE:KEY) by 340.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 413,011 shares of the financial services provider’s stock after purchasing an additional 319,155 shares during the period. Franklin Resources Inc.’s holdings in KeyCorp were worth $7,186,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in KEY. Financial Advocates Investment Management grew its stake in shares of KeyCorp by 2.3% during the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after buying an additional 602 shares during the last quarter. HM Payson & Co. grew its position in 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 acquiring an additional 650 shares during the last quarter. Graypoint LLC increased its stake in KeyCorp by 4.7% in the third quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 675 shares during the period. Vontobel Holding Ltd. lifted its position in shares of KeyCorp by 2.1% during the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after purchasing an additional 679 shares during the last quarter. Finally, Empirical Finance LLC boosted its stake in shares of KeyCorp by 2.2% during the third quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 705 shares during the period. 79.69% of the stock is currently owned by institutional investors.

Insider Activity at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. The trade was 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 currently owned by insiders.

KeyCorp Price Performance

Shares of KEY opened at $17.09 on Monday. The company has a 50 day moving average of $18.29 and a two-hundred day moving average of $16.49. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a twelve month low of $12.94 and a twelve month high of $20.04. The company has a market cap of $16.94 billion, a price-to-earnings ratio of 1,709.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.25.

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, 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 firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. As a group, analysts predict that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.205 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.82 annualized dividend and a dividend yield of 4.80%. KeyCorp’s dividend payout ratio (DPR) is currently 8,200.00%.

Analyst Ratings Changes

Several research firms recently commented on KEY. Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research note on Thursday, November 7th. Keefe, Bruyette & Woods raised their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. UBS Group raised their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $19.16.

KeyCorp 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.