Kovitz Investment Group Partners LLC Increases Holdings in KeyCorp (NYSE:KEY)

Kovitz Investment Group Partners LLC boosted its stake in KeyCorp (NYSE:KEY) by 4.1% in the 3rd quarter, Holdings Channel reports. The firm owned 223,023 shares of the financial services provider’s stock after buying an additional 8,885 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in KeyCorp were worth $3,736,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of KeyCorp by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock worth $529,409,000 after buying an additional 993,942 shares during the period. Diamond Hill Capital Management Inc. lifted its position in KeyCorp by 12.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $288,403,000 after acquiring an additional 2,213,872 shares in the last quarter. Earnest Partners LLC boosted its holdings in KeyCorp by 23.2% in the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock worth $176,631,000 after acquiring an additional 2,339,454 shares during the period. Dimensional Fund Advisors LP grew its position in KeyCorp by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock valued at $149,299,000 after acquiring an additional 300,339 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of KeyCorp by 3.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock valued at $119,170,000 after purchasing an additional 222,187 shares during the period. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of the firm’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 sale, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. This trade represents 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 Trading Up 0.8 %

NYSE KEY opened at $18.87 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50-day simple moving average of $18.06 and a 200-day simple moving average of $16.25. KeyCorp has a one year low of $12.94 and a one year high of $20.04. The firm has a market capitalization of $18.71 billion, a PE ratio of 1,887.00, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results 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 return on equity of 8.24% and a net margin of 0.76%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. On average, equities analysts forecast that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Dividend Announcement

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 $0.205 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.82 annualized dividend and a yield of 4.35%. KeyCorp’s dividend payout ratio is presently 8,200.00%.

Analysts Set New Price Targets

KEY has been the subject of several analyst reports. UBS Group upped their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. DA Davidson upped their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company lifted their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Finally, Citigroup lowered KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Thursday, November 7th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $19.16.

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.