KeyCorp $KEY Stake Cut by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. decreased its holdings in shares of KeyCorp (NYSE:KEY) by 50.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 150,632 shares of the financial services provider’s stock after selling 150,894 shares during the period. Jefferies Financial Group Inc.’s holdings in KeyCorp were worth $3,023,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. North Reef Capital Management LP acquired a new position in KeyCorp during the first quarter worth $253,632,000. Commerce Bank acquired a new stake in KeyCorp in the second quarter valued at $2,657,000. Alps Advisors Inc. lifted its holdings in KeyCorp by 9.3% in the third quarter. Alps Advisors Inc. now owns 1,304,692 shares of the financial services provider’s stock valued at $26,185,000 after acquiring an additional 111,126 shares during the period. Weiss Asset Management LP acquired a new stake in KeyCorp in the first quarter valued at $7,040,000. Finally, Bank of Nova Scotia boosted its position in shares of KeyCorp by 0.6% during the 1st quarter. Bank of Nova Scotia now owns 162,996,326 shares of the financial services provider’s stock worth $3,268,076,000 after purchasing an additional 900,951 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Stock Down 0.5%

KeyCorp stock opened at $21.33 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market capitalization of $22.53 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07. KeyCorp has a fifty-two week low of $16.91 and a fifty-two week high of $24.07. The stock’s fifty day moving average is $20.84 and its two-hundred day moving average is $21.55.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.05 billion. KeyCorp had a return on equity of 12.06% and a net margin of 18.56%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $0.41 earnings per share. Analysts predict that KeyCorp will post 1.88 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.2050 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, December 1st. KeyCorp’s dividend payout ratio is presently 45.05%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on KEY shares. Argus raised shares of KeyCorp to a “strong-buy” rating in a research note on Wednesday, July 29th. TD Cowen began coverage on shares of KeyCorp in a research note on Thursday, October 8th. They issued a “buy” rating and a $23.00 price objective for the company. Royal Bank Of Canada reduced their price objective on shares of KeyCorp from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, October 21st. JPMorgan Chase & Co. upped their target price on shares of KeyCorp from $23.00 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, October 30th. Finally, Keefe, Bruyette & Woods upped their target price on shares of KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.25.

Insiders Place Their Bets

In other news, insider Andrew Paine, III sold 39,130 shares of the firm’s stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $21.20, for a total transaction of $829,556.00. Following the completion of the transaction, the insider directly owned 191,571 shares of the company’s stock, valued at $4,061,305.20. This trade represents a 16.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.56% of the company’s stock.

KeyCorp Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, and the parent of KeyBank National Association. KeyBank traces its history to 1825 and serves consumers, businesses, and institutions through banking and financial services. The company’s offerings include consumer and small-business banking, commercial lending, treasury and payment services, investment banking, and wealth management. Its commercial and investment banking services are also available to clients beyond its retail branch footprint.