Lbp Am Sa Has $10.06 Million Stock Holdings in KeyCorp $KEY

Key Points

• Lbp Am Sa increased its stake in KeyCorp by 161.7% during Q2, owning approximately 577,554 shares valued at $10.06 million.
• Insider Andrew J. Paine III sold 44,953 shares at an average price of $19.29, resulting in a 15.50% decrease in his ownership stake.
• Analyst ratings for KeyCorp vary, with ten analysts giving it a Buy rating, nine a Hold rating, and one a Sell rating, and a consensus target price of $20.08.

Lbp Am Sa grew its position in shares of KeyCorp (NYSE:KEY - Free Report) by 161.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 577,554 shares of the financial services provider's stock after purchasing an additional 356,822 shares during the quarter. Lbp Am Sa owned approximately 0.05% of KeyCorp worth $10,061,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of KeyCorp by 7.2% during the first quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider's stock valued at $2,004,273,000 after purchasing an additional 8,412,625 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of KeyCorp by 40.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider's stock valued at $814,756,000 after purchasing an additional 14,651,281 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of KeyCorp by 12.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider's stock valued at $487,882,000 after purchasing an additional 3,327,972 shares in the last quarter. Invesco Ltd. boosted its stake in shares of KeyCorp by 19.5% during the first quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider's stock valued at $329,777,000 after purchasing an additional 3,363,421 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of KeyCorp by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 11,201,253 shares of the financial services provider's stock valued at $179,084,000 after purchasing an additional 319,019 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at KeyCorp

In related news, insider Andrew J. Paine III sold 44,953 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the completion of the sale, the insider owned 245,044 shares in the company, valued at approximately $4,726,898.76. This represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Trina M. Evans sold 17,000 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the sale, the director owned 82,719 shares of the company's stock, valued at $1,544,363.73. This trade represents a 17.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 174,102 shares of company stock valued at $3,299,664. Company insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

KEY has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on KeyCorp from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Jefferies Financial Group lowered their price objective on KeyCorp from $21.00 to $20.00 and set a "hold" rating for the company in a research report on Wednesday, September 24th. UBS Group upgraded KeyCorp from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $16.00 to $22.00 in a research report on Tuesday, July 8th. Citigroup restated a "neutral" rating and set a $20.00 price objective (up from $19.00) on shares of KeyCorp in a research report on Thursday, July 24th. Finally, Evercore ISI raised their price objective on KeyCorp from $21.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday. Ten analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $20.08.

KeyCorp Trading Down 1.0%

Shares of KEY stock opened at $18.50 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The stock has a 50 day simple moving average of $18.58 and a two-hundred day simple moving average of $16.92. The company has a market cap of $20.28 billion, a P/E ratio of -264.21, a PEG ratio of 0.65 and a beta of 1.15.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, beating 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 firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The company's revenue for the quarter was up 20.6% compared to the same quarter last year. Research analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. KeyCorp's dividend payout ratio (DPR) is -1,171.43%.

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.

Want to see what other hedge funds are holding KEY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KeyCorp (NYSE:KEY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.