Paloma Partners Management Co Boosts Holdings in KeyCorp (NYSE:KEY)

Paloma Partners Management Co boosted its stake in KeyCorp (NYSE:KEY) by 364.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,500 shares of the financial services provider’s stock after acquiring an additional 45,915 shares during the period. Paloma Partners Management Co’s holdings in KeyCorp were worth $980,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of KEY. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of KeyCorp in the 3rd quarter valued at about $185,000. Hantz Financial Services Inc. increased its position in KeyCorp by 4.6% during the third quarter. Hantz Financial Services Inc. now owns 437,343 shares of the financial services provider’s stock worth $7,326,000 after buying an additional 19,393 shares during the period. Public Sector Pension Investment Board lifted its stake in KeyCorp by 1.2% in the third quarter. Public Sector Pension Investment Board now owns 161,783 shares of the financial services provider’s stock valued at $2,710,000 after buying an additional 1,900 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of KeyCorp by 3.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock valued at $119,170,000 after acquiring an additional 222,187 shares during the period. Finally, Glenmede Trust Co. NA grew its position in shares of KeyCorp by 14.3% during the third quarter. Glenmede Trust Co. NA now owns 67,102 shares of the financial services provider’s stock worth $1,124,000 after acquiring an additional 8,399 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Buying and Selling

In other news, insider Angela G. Mago sold 15,011 shares of the business’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 completion of the transaction, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 transaction, the director now directly owns 37,864 shares in the company, valued at $648,988.96. The trade was 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 Down 1.9 %

KeyCorp stock opened at $19.11 on Tuesday. KeyCorp has a fifty-two week low of $12.76 and a fifty-two week high of $20.04. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 1,911.00, a price-to-earnings-growth ratio of 1.07 and a beta of 1.25. The stock’s fifty day moving average is $17.88 and its two-hundred day moving average is $16.15. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. Analysts predict that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be paid 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 dividend yield of 4.29%. KeyCorp’s dividend payout ratio (DPR) is 8,200.00%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays increased their price target on shares of KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Royal Bank of Canada raised their price target on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. DA Davidson upped their price objective on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a report on Tuesday, September 10th. Finally, UBS Group increased their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.26.

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.