B. Metzler seel. Sohn & Co. Holding AG Invests $2.70 Million in KeyCorp (NYSE:KEY)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of KeyCorp (NYSE:KEY) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 161,419 shares of the financial services provider’s stock, valued at approximately $2,704,000.

Several other hedge funds have also modified their holdings of KEY. Assenagon Asset Management S.A. raised its holdings in 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 worth $83,364,000 after buying an additional 3,668,168 shares during the period. Ceredex Value Advisors LLC raised its holdings in shares of KeyCorp by 112.4% during the second quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after acquiring an additional 3,517,755 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of KeyCorp by 108.3% during the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock valued at $98,025,000 after acquiring an additional 3,042,060 shares during the period. Victory Capital Management Inc. lifted its position 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 valued at $63,452,000 after acquiring an additional 2,790,192 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in KeyCorp in the 2nd quarter worth approximately $33,273,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their position. The transaction was disclosed in a document filed 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 dated 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 of the company’s stock, valued at $648,988.96. This represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

NYSE KEY opened at $19.25 on Friday. KeyCorp has a 1 year low of $11.64 and a 1 year high of $20.00. The company has a fifty day simple moving average of $17.48 and a 200 day simple moving average of $15.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The company has a market cap of $19.08 billion, a P/E ratio of 1,925.00, a P/E/G ratio of 1.05 and a beta of 1.24.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $1.60 billion during 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%. On average, sell-side analysts predict that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.26%. KeyCorp’s dividend payout ratio is currently 8,200.00%.

Analyst Ratings Changes

KEY has been the subject of a number of research analyst reports. DA Davidson increased their target price on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 21st. Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Thursday, November 7th. Morgan Stanley lifted their target price on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Jefferies Financial Group increased their price target 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. Finally, Wedbush boosted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.03.

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.