177,003 Shares in KeyCorp (NYSE:KEY) Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP bought a new stake in shares of KeyCorp (NYSE:KEY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 177,003 shares of the financial services provider’s stock, valued at approximately $2,965,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Azora Capital LP purchased a new stake in shares of KeyCorp during the third quarter valued at $92,413,000. Assenagon Asset Management S.A. lifted its stake 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 acquiring an additional 3,668,168 shares during the period. Ceredex Value Advisors LLC boosted its holdings in shares of KeyCorp by 112.4% during the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after acquiring an additional 3,517,755 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of KeyCorp by 108.3% in the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after acquiring an additional 3,042,060 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of KeyCorp by 164.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock worth $78,066,000 after acquiring an additional 2,900,971 shares during the period. Institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Morgan Stanley raised their price target on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $17.00 in a research report on Monday, October 14th. Royal Bank of Canada raised their target price on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company upped their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.26.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated 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 of the company’s stock, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by corporate insiders.

KeyCorp Stock Down 1.9 %

Shares of KEY stock opened at $19.11 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. KeyCorp has a one year low of $12.76 and a one year high of $20.04. The company’s fifty day moving average price is $17.88 and its 200-day moving average price is $16.15. The company has a market capitalization of $18.94 billion, a price-to-earnings ratio of 1,911.00, a PEG ratio of 1.07 and a beta of 1.25.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS 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 business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Sell-side analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.29%. KeyCorp’s dividend payout ratio is presently 8,200.00%.

About KeyCorp

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.