Brighton Jones LLC Acquires New Position in KeyCorp (NYSE:KEY)

Brighton Jones LLC bought a new position in KeyCorp (NYSE:KEY) in the fourth quarter, HoldingsChannel reports. The fund bought 27,767 shares of the financial services provider’s stock, valued at approximately $476,000.

A number of other institutional investors also recently modified their holdings of the stock. Azora Capital LP purchased a new stake in shares of KeyCorp during the third quarter worth $92,413,000. Assenagon Asset Management S.A. raised its stake 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 worth $83,364,000 after purchasing an additional 3,668,168 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of KeyCorp by 108.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock valued at $98,025,000 after buying an additional 3,042,060 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of 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 in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in KeyCorp by 279.6% in the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock worth $63,452,000 after buying an additional 2,790,192 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KEY has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. UBS Group upped their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods lowered their target price on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Stephens reaffirmed an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. Finally, Barclays increased their price objective on KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.58.

Insider Activity at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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. This represents a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, 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. 0.61% of the stock is owned by corporate insiders.

KeyCorp Price Performance

NYSE:KEY opened at $17.69 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.88. KeyCorp has a one year low of $13.10 and a one year high of $20.04. The company has a fifty day moving average price of $18.03 and a 200 day moving average price of $17.11. The stock has a market cap of $17.53 billion, a P/E ratio of -58.96, a PEG ratio of 0.65 and a beta of 1.27.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently -273.33%.

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.