Townsquare Capital LLC Acquires 8,814 Shares of KeyCorp (NYSE:KEY)

Townsquare Capital LLC lifted its stake in KeyCorp (NYSE:KEY) by 34.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,715 shares of the financial services provider’s stock after buying an additional 8,814 shares during the period. Townsquare Capital LLC’s holdings in KeyCorp were worth $581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its position in shares of 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 valued at $83,364,000 after acquiring an additional 3,668,168 shares during the period. Ceredex Value Advisors LLC lifted its position in 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 worth $94,459,000 after purchasing an additional 3,517,755 shares during the period. Thrivent Financial for Lutherans grew its stake in 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 worth $98,025,000 after buying an additional 3,042,060 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in KeyCorp by 164.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock valued at $78,066,000 after buying an additional 2,900,971 shares during the period. Finally, Victory Capital Management Inc. raised 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 buying an additional 2,790,192 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE KEY opened at $18.79 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $18.63 billion, a PE ratio of 1,879.00, a P/E/G ratio of 1.05 and a beta of 1.25. The firm has a fifty day simple moving average of $17.92 and a 200 day simple moving average of $16.17. KeyCorp has a twelve month low of $12.76 and a twelve month high of $20.04.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.59 billion. On average, sell-side analysts forecast that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s dividend payout ratio (DPR) is 8,200.00%.

Insider Activity at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler lifted their price target on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada upped their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Citigroup cut KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Thursday, November 7th. Finally, Barclays increased their target price on shares of KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and a consensus price target of $18.56.

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.