Larson Financial Group LLC Buys 918 Shares of KeyCorp (NYSE:KEY)

Larson Financial Group LLC boosted its position in KeyCorp (NYSE:KEY) by 90.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,929 shares of the financial services provider’s stock after acquiring an additional 918 shares during the quarter. Larson Financial Group LLC’s holdings in KeyCorp were worth $32,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its stake in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,142 shares during the period. American Capital Advisory LLC bought a new position in shares of KeyCorp in the 3rd quarter worth $28,000. Catalyst Capital Advisors LLC bought a new position in shares of KeyCorp in the 3rd quarter worth $35,000. Capital Performance Advisors LLP acquired a new stake in KeyCorp in the 3rd quarter valued at $38,000. Finally, Hexagon Capital Partners LLC increased its stake in KeyCorp by 189.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,311 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,513 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Price Performance

Shares of KEY opened at $19.48 on Friday. KeyCorp has a fifty-two week low of $12.22 and a fifty-two week high of $20.04. The firm’s 50-day simple moving average is $17.83 and its two-hundred day simple moving average is $16.12. The stock has a market cap of $19.31 billion, a PE ratio of 1,948.00, a price-to-earnings-growth ratio of 1.07 and a beta of 1.24. 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 posted its quarterly 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 the consensus estimate of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. Analysts anticipate that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp’s dividend payout ratio is presently 8,200.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Wells Fargo & Company raised their price target on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Wedbush upped their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $17.00 in a research report on Monday, October 14th. Finally, Royal Bank of Canada upped their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average target price of $18.26.

Insider Buying and Selling

In related news, Director Carlton L. Highsmith sold 9,000 shares of the business’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 value of $154,260.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the 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 owns 234,582 shares in the company, valued at approximately $4,595,461.38. This represents a 6.01 % 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 company 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.