Assenagon Asset Management S.A. Sells 2,357,621 Shares of KeyCorp (NYSE:KEY)

Assenagon Asset Management S.A. lowered its stake in shares of KeyCorp (NYSE:KEY) by 47.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,619,344 shares of the financial services provider’s stock after selling 2,357,621 shares during the period. Assenagon Asset Management S.A. owned 0.26% of KeyCorp worth $44,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in KeyCorp in the 2nd quarter worth $283,000. Oppenheimer Asset Management Inc. increased its holdings in shares of KeyCorp by 40.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 82,111 shares of the financial services provider’s stock worth $1,167,000 after purchasing an additional 23,604 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of KeyCorp by 4.3% in the second quarter. Envestnet Asset Management Inc. now owns 1,922,921 shares of the financial services provider’s stock worth $27,325,000 after buying an additional 78,856 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in KeyCorp by 2.9% during 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 buying an additional 300,339 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in KeyCorp during the 2nd quarter valued at approximately $2,570,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling

In other news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, 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 business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the transaction, the director now directly 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 owned by insiders.

Analysts Set New Price Targets

KEY has been the subject of a number of research reports. Truist Financial started coverage on KeyCorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $19.00 target price for the company. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Thursday, November 7th. UBS Group boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $17.00 in a report on Monday, October 14th. Finally, DA Davidson boosted their price objective on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, KeyCorp has an average rating of “Moderate Buy” and an average target price of $19.44.

KeyCorp Stock Down 1.6 %

Shares of KEY opened at $17.85 on Friday. The firm has a fifty day moving average price of $18.22 and a 200-day moving average price of $16.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $17.69 billion, a P/E ratio of 1,784.50, a P/E/G ratio of 0.63 and a beta of 1.27. KeyCorp has a 12-month low of $12.94 and a 12-month 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, beating the consensus estimate of $0.27 by $0.03. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. Equities research analysts expect that KeyCorp will post 1.1 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.60%. KeyCorp’s payout ratio is 8,200.00%.

KeyCorp 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.