Contravisory Investment Management Inc. Raises Stock Position in KeyCorp (NYSE:KEY)

Contravisory Investment Management Inc. lifted its position in KeyCorp (NYSE:KEY) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,002 shares of the financial services provider’s stock after purchasing an additional 791 shares during the period. Contravisory Investment Management Inc.’s holdings in KeyCorp were worth $806,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KEY. Azora Capital LP purchased a new stake in shares of KeyCorp in the 3rd quarter worth $92,413,000. Assenagon Asset Management S.A. increased its position 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 valued at $83,364,000 after purchasing an additional 3,668,168 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of KeyCorp by 108.3% in 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 purchasing an additional 3,042,060 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of KeyCorp by 164.9% during the third 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 purchasing an additional 2,900,971 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in KeyCorp by 279.6% during the third 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 during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on KEY shares. Wedbush increased their target price on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Piper Sandler boosted their target price on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Evercore ISI raised their price target on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group upped 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. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $19.44.

Insider Buying and Selling

In other news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction on Wednesday, November 6th. The stock was 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 $4,595,461.38. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’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 in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by company insiders.

KeyCorp Stock Performance

NYSE KEY opened at $18.15 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $18.26 and its 200-day simple moving average is $16.93. The company has a market cap of $17.99 billion, a PE ratio of 1,815.00, a price-to-earnings-growth ratio of 0.63 and a beta of 1.27. KeyCorp has a 1-year low of $12.94 and a 1-year high of $20.04.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates 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. As a group, equities research analysts anticipate that KeyCorp will post 1.1 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Tuesday, December 3rd. KeyCorp’s dividend payout ratio is currently 8,200.00%.

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.