Thrivent Financial for Lutherans Has $98.03 Million Stake in KeyCorp (NYSE:KEY)

Thrivent Financial for Lutherans increased its position in shares of KeyCorp (NYSE:KEY) by 108.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,852,233 shares of the financial services provider’s stock after acquiring an additional 3,042,060 shares during the period. Thrivent Financial for Lutherans owned about 0.62% of KeyCorp worth $98,025,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of KEY. Pathway Financial Advisers LLC acquired a new position in shares of KeyCorp in the first quarter valued at approximately $25,000. Wolff Wiese Magana LLC grew its holdings in KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,142 shares during the last quarter. American Capital Advisory LLC acquired a new position in KeyCorp in the 3rd quarter valued at approximately $28,000. Crewe Advisors LLC bought a new position in shares of KeyCorp during the first quarter valued at $32,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of KeyCorp during the third quarter worth $35,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insiders Place Their Bets

In other news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This represents a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was 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 represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

KeyCorp Stock Performance

NYSE KEY opened at $19.16 on Monday. The company has a market cap of $18.99 billion, a P/E ratio of 1,916.00, a PEG ratio of 1.05 and a beta of 1.24. The company has a fifty day simple moving average of $17.23 and a 200 day simple moving average of $15.82. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a 12-month low of $11.64 and a 12-month high of $20.00.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Sell-side analysts predict that KeyCorp will post 1.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KEY. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research report on Tuesday, September 10th. Wells Fargo & Company lifted their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. UBS Group boosted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley increased their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.03.

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.