BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Stake in KeyCorp (NYSE:KEY)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of KeyCorp (NYSE:KEY) by 164.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,660,680 shares of the financial services provider’s stock after purchasing an additional 2,900,971 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.49% of KeyCorp worth $78,066,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Diamond Hill Capital Management Inc. raised its stake in shares of KeyCorp by 12.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $288,403,000 after purchasing an additional 2,213,872 shares during the last quarter. Earnest Partners LLC raised its position in KeyCorp by 23.2% during the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock worth $176,631,000 after buying an additional 2,339,454 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in KeyCorp by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock valued at $149,299,000 after acquiring an additional 300,339 shares during the period. Ceredex Value Advisors LLC increased its stake in shares of KeyCorp by 112.4% in the second quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after acquiring an additional 3,517,755 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of KeyCorp by 108.3% in the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after acquiring an additional 3,042,060 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction that occurred 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 transaction, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on KEY shares. Wells Fargo & Company upped their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group set a $19.00 target price on KeyCorp in a research note on Thursday, October 17th. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Jefferies Financial Group boosted their price target on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 19th. Finally, Barclays raised their price objective on shares of KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.03.

KeyCorp Stock Up 1.2 %

KEY opened at $19.25 on Friday. The company has a market cap of $19.08 billion, a PE ratio of 1,925.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. KeyCorp has a twelve month low of $11.64 and a twelve month high of $20.00. The company has a 50-day moving average price of $17.48 and a 200 day moving average price of $15.92. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09.

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%. Sell-side analysts expect that KeyCorp will post 1.09 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.26%. KeyCorp’s payout ratio is currently 8,200.00%.

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.