Dai ichi Life Insurance Company Ltd Takes Position in KeyCorp (NYSE:KEY)

Dai ichi Life Insurance Company Ltd acquired a new stake in shares of KeyCorp (NYSE:KEY) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 47,657 shares of the financial services provider’s stock, valued at approximately $798,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its position in KeyCorp by 87.5% in the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock worth $18,598,000 after purchasing an additional 610,688 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in KeyCorp by 14.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after purchasing an additional 85,052 shares during the last quarter. MBB Public Markets I LLC bought a new stake in KeyCorp in the second quarter worth $981,000. Cetera Investment Advisers increased its position in KeyCorp by 274.4% in the first quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock worth $5,251,000 after purchasing an additional 243,437 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its position in KeyCorp by 92.6% in the second quarter. Gateway Investment Advisers LLC now owns 302,681 shares of the financial services provider’s stock worth $4,301,000 after purchasing an additional 145,555 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Down 0.7 %

Shares of KEY opened at $19.52 on Friday. KeyCorp has a 12-month low of $11.64 and a 12-month high of $20.04. The firm has a fifty day moving average price of $17.79 and a 200-day moving average price of $16.08. The firm has a market capitalization of $19.35 billion, a P/E ratio of 1,952.00, a P/E/G ratio of 1.08 and a beta of 1.24. 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 (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. Equities research analysts expect that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be issued a $0.205 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.82 annualized dividend and a dividend yield of 4.20%. KeyCorp’s dividend payout ratio is currently 8,200.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KEY shares. Wells Fargo & Company boosted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays boosted their price objective on shares of KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. The Goldman Sachs Group boosted their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group boosted their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.26.

Insider Activity

In related news, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. The trade was a 19.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela G. Mago sold 15,011 shares of the business’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 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 position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

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.