Toronto Dominion Bank Acquires 187,587 Shares of KeyCorp (NYSE:KEY)

Toronto Dominion Bank increased its stake in KeyCorp (NYSE:KEY) by 68.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 460,441 shares of the financial services provider’s stock after acquiring an additional 187,587 shares during the period. Toronto Dominion Bank’s holdings in KeyCorp were worth $7,712,000 as of its most recent SEC filing.

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

KeyCorp Price Performance

Shares of KEY opened at $18.13 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50 day moving average price of $18.24 and a 200-day moving average price of $16.37. KeyCorp has a fifty-two week low of $12.94 and a fifty-two week high of $20.04. The stock has a market capitalization of $17.97 billion, a PE ratio of 1,813.00, a PEG ratio of 1.00 and a beta of 1.25.

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 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 analyst estimates of $1.59 billion. Equities analysts predict that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Tuesday, December 3rd were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date was Tuesday, December 3rd. KeyCorp’s payout ratio is currently 8,200.00%.

Analyst Upgrades and Downgrades

KEY has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods raised their price target on KeyCorp from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. 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. Evercore ISI increased their target price on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Wedbush boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.16.

Insider Buying and Selling at KeyCorp

In other 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 $4,595,461.38. The trade was a 6.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

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.