KeyCorp (NYSE:KEY) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in KeyCorp (NYSE:KEY - Free Report) by 97.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,188 shares of the financial services provider's stock after selling 2,558,156 shares during the period. Assenagon Asset Management S.A.'s holdings in KeyCorp were worth $978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. raised its holdings in KeyCorp by 110.3% in the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 800 shares in the last quarter. Ethos Financial Group LLC purchased a new stake in shares of KeyCorp in the 4th quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of KeyCorp in the 4th quarter valued at approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of KeyCorp in the 4th quarter valued at $34,000. Finally, TCTC Holdings LLC lifted its position in shares of KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider's stock worth $38,000 after purchasing an additional 611 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Stock Performance

Shares of KEY traded up $0.26 during mid-day trading on Thursday, hitting $15.99. 14,236,349 shares of the company's stock were exchanged, compared to its average volume of 12,940,119. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.75. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The business's 50 day moving average is $15.45 and its two-hundred day moving average is $16.43. The firm has a market capitalization of $17.53 billion, a P/E ratio of -94.08, a P/E/G ratio of 0.59 and a beta of 1.09.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. KeyCorp had a positive return on equity of 9.43% and a negative net margin of 0.12%. The company had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same period last year, the firm earned $0.20 EPS. On average, equities analysts expect that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp announced that its Board of Directors has approved a stock repurchase program on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, May 27th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.13%. The ex-dividend date was Tuesday, May 27th. KeyCorp's dividend payout ratio is presently -482.35%.

Insider Activity at KeyCorp

In related news, insider Amy G. Brady sold 19,000 shares of KeyCorp stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.09, for a total value of $305,710.00. Following the sale, the insider now directly owns 82,523 shares in the company, valued at $1,327,795.07. The trade was a 18.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mohit Ramani acquired 10,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the acquisition, the insider now directly owns 10,000 shares of the company's stock, valued at $137,500. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Royal Bank Of Canada reissued an "outperform" rating on shares of KeyCorp in a report on Thursday, April 17th. Citigroup reiterated a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. Barclays cut their target price on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. lowered their price target on KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Finally, Morgan Stanley reissued an "equal weight" rating on shares of KeyCorp in a report on Thursday, April 17th. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.92.

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.