Brookstone Capital Management Increases Stake in KeyCorp (NYSE:KEY)

Brookstone Capital Management lifted its holdings in KeyCorp (NYSE:KEY) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,415 shares of the financial services provider’s stock after purchasing an additional 734 shares during the quarter. Brookstone Capital Management’s holdings in KeyCorp were worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of KEY. Azora Capital LP purchased a new position in KeyCorp in the third quarter worth about $92,413,000. Assenagon Asset Management S.A. lifted its position in shares of KeyCorp by 280.3% in the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock valued at $83,364,000 after acquiring an additional 3,668,168 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in KeyCorp by 108.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock valued at $98,025,000 after buying an additional 3,042,060 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in KeyCorp by 164.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock valued at $78,066,000 after acquiring an additional 2,900,971 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of KeyCorp by 279.6% in the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock worth $63,452,000 after buying an additional 2,790,192 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

KEY has been the subject of a number of analyst reports. UBS Group increased their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. The Goldman Sachs Group raised their target price on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. DA Davidson upped 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. Finally, Barclays lifted their price target on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.44.

Insider Activity at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.

KeyCorp Trading Up 2.7 %

Shares of KEY stock opened at $18.32 on Monday. The stock has a 50 day simple moving average of $18.18 and a 200-day simple moving average of $17.01. KeyCorp has a 1-year low of $12.94 and a 1-year high of $20.04. The company has a market cap of $18.16 billion, a price-to-earnings ratio of 1,832.30, a PEG ratio of 0.63 and a beta of 1.27. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88.

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

KeyCorp Announces Dividend

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

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.