Dai ichi Life Insurance Company Ltd Takes Position in KeyCorp (NYSE:KEY)

Dai ichi Life Insurance Company Ltd acquired a new stake in KeyCorp (NYSE:KEY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 47,657 shares of the financial services provider’s stock, valued at approximately $798,000.

Several other large investors have also made changes to their positions in the business. Truvestments Capital LLC purchased a new stake in KeyCorp during the third quarter worth $55,000. Harvest Fund Management Co. Ltd boosted its holdings in KeyCorp by 1,076.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 7,350 shares of the financial services provider’s stock worth $123,000 after buying an additional 6,725 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in KeyCorp by 12.0% during the third quarter. Daiwa Securities Group Inc. now owns 114,475 shares of the financial services provider’s stock worth $1,917,000 after buying an additional 12,299 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in KeyCorp by 18.1% during the third quarter. Summit Trail Advisors LLC now owns 25,689 shares of the financial services provider’s stock worth $430,000 after buying an additional 3,935 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in KeyCorp during the third quarter worth $109,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Price Performance

Shares of NYSE KEY opened at $19.52 on Friday. The firm has a 50-day simple moving average of $17.79 and a 200-day simple moving average of $16.08. The stock has a market capitalization of $19.35 billion, a price-to-earnings ratio of 1,952.00, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a 52 week low of $11.64 and a 52 week high of $20.04.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. On average, equities analysts predict that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 yield of 4.20%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp’s payout ratio is currently 8,200.00%.

Wall Street Analyst Weigh In

KEY has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $17.00 in a research report on Monday, October 14th. Royal Bank of Canada upped their price objective 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. Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Finally, Evercore ISI upped their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and an average price target of $18.26.

Insider Buying and Selling

In related news, insider Angela G. Mago sold 15,011 shares of the firm’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 completion of the sale, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The transaction 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 stock in a transaction dated 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 directly 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 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.