Mediolanum International Funds Ltd Acquires Shares of 1,112,134 KeyCorp (NYSE:KEY)

Mediolanum International Funds Ltd bought a new position in shares of KeyCorp (NYSE:KEY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,112,134 shares of the financial services provider’s stock, valued at approximately $18,982,000.

A number of other large investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in shares of KeyCorp by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock worth $529,409,000 after buying an additional 993,942 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of KeyCorp by 3.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock worth $119,170,000 after acquiring an additional 222,187 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of KeyCorp by 108.3% in 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 purchasing an additional 3,042,060 shares in the last quarter. Azora Capital LP bought a new stake in shares of KeyCorp during the 3rd quarter valued at approximately $92,413,000. Finally, Assenagon Asset Management S.A. increased its position in KeyCorp by 280.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after purchasing an additional 3,668,168 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the 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 transaction, the director now owns 37,864 shares in the company, valued at approximately $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 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KEY. Royal Bank of Canada reaffirmed an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. Wells Fargo & Company increased their target price on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Barclays boosted their price target on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Morgan Stanley dropped their price objective on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Finally, Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $17.00 in a report on Monday, October 14th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.58.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $18.05 on Friday. The stock’s 50-day moving average is $17.95 and its 200 day moving average is $17.17. KeyCorp has a one year low of $13.10 and a one year high of $20.04. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s payout ratio is -273.32%.

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.