Hennessy Advisors Inc. Has $857,000 Position in KeyCorp (NYSE:KEY)

Hennessy Advisors Inc. lessened its stake in shares of KeyCorp (NYSE:KEY) by 13.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,000 shares of the financial services provider’s stock after selling 8,000 shares during the period. Hennessy Advisors Inc.’s holdings in KeyCorp were worth $857,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in KeyCorp by 14.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after acquiring an additional 85,052 shares during the period. MBB Public Markets I LLC acquired a new stake in shares of KeyCorp in the second quarter valued at about $981,000. Dai ichi Life Insurance Company Ltd bought a new position in shares of KeyCorp in the third quarter worth about $798,000. Prospector Partners LLC bought a new stake in KeyCorp during the 3rd quarter valued at approximately $9,630,000. Finally, Natixis Advisors LLC grew its holdings in KeyCorp by 17.9% in the 3rd quarter. Natixis Advisors LLC now owns 689,469 shares of the financial services provider’s stock valued at $11,549,000 after buying an additional 104,689 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

NYSE:KEY opened at $18.32 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The firm has a market cap of $18.16 billion, a PE ratio of 1,832.30, a price-to-earnings-growth 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. The company’s 50-day moving average price is $18.18 and its two-hundred day moving average price is $16.99.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. On average, equities analysts anticipate that KeyCorp will post 1.1 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently 8,200.00%.

Analyst Ratings Changes

KEY has been the subject of a number of research analyst reports. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. 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. Keefe, Bruyette & Woods raised their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company upped their price objective 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. Finally, Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Thursday, November 7th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.44.

Insider Transactions at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the company’s 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 of the company’s stock, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

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.