KeyCorp (NYSE:KEY) Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia increased its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 32.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 81,995 shares of the financial services provider's stock after purchasing an additional 19,944 shares during the period. Bank of Nova Scotia's holdings in KeyCorp were worth $1,311,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KEY. Jefferies Financial Group Inc. purchased a new stake in shares of KeyCorp during the first quarter worth approximately $756,000. Banque Cantonale Vaudoise purchased a new stake in shares of KeyCorp during the first quarter worth $295,000. Algebris UK Ltd lifted its stake in shares of KeyCorp by 84.2% in the first quarter. Algebris UK Ltd now owns 1,298,907 shares of the financial services provider's stock worth $19,227,000 after buying an additional 593,684 shares in the last quarter. Cozad Asset Management Inc. lifted its stake in shares of KeyCorp by 10.0% in the first quarter. Cozad Asset Management Inc. now owns 135,542 shares of the financial services provider's stock worth $2,167,000 after buying an additional 12,271 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its position in KeyCorp by 12.9% during the first quarter. Meeder Advisory Services Inc. now owns 48,749 shares of the financial services provider's stock worth $779,000 after acquiring an additional 5,576 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at KeyCorp

In other KeyCorp news, insider Amy G. Brady sold 19,000 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.09, for a total transaction of $305,710.00. Following the sale, the insider directly owned 82,523 shares in the company, valued at $1,327,795.07. This represents a 18.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the transaction, the director directly owned 37,177 shares of the company's stock, valued at approximately $617,138.20. The trade was a 11.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 153,149 shares of company stock valued at $2,821,230. 0.52% of the stock is owned by insiders.

KeyCorp Stock Performance

NYSE:KEY opened at $17.39 on Friday. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84. The company has a 50 day moving average price of $17.34 and a 200 day moving average price of $16.48. The stock has a market capitalization of $19.05 billion, a P/E ratio of -248.36, a PEG ratio of 0.62 and a beta of 1.13.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%. The company had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.81 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. The firm's revenue was up 20.6% compared to the same quarter last year. Equities research analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. KeyCorp's payout ratio is currently -1,171.43%.

Analyst Upgrades and Downgrades

KEY has been the topic of a number of research reports. Cowen started coverage on shares of KeyCorp in a research note on Wednesday, May 14th. They issued a "hold" rating on the stock. Wells Fargo & Company boosted their price objective on KeyCorp from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Citigroup reaffirmed a "neutral" rating and issued a $20.00 target price (up from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. UBS Group raised shares of KeyCorp from a "neutral" rating to a "buy" rating and boosted their price target for the company from $16.00 to $22.00 in a research report on Tuesday, July 8th. Finally, Evercore ISI set a $17.00 price objective on shares of KeyCorp in a report on Monday, April 28th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $19.39.

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.

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