SG Americas Securities LLC Has $2.65 Million Stake in KeyCorp (NYSE:KEY)
SG Americas Securities LLC boosted its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 59.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,303 shares of the financial services provider's stock after purchasing an additional 57,510 shares during the period. SG Americas Securities LLC's holdings in KeyCorp were worth $2,645,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of KeyCorp by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider's stock valued at $529,409,000 after purchasing an additional 993,942 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in KeyCorp by 3.2% during 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 valued at $119,170,000 after buying an additional 222,187 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings 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 buying an additional 3,042,060 shares during the period. Azora Capital LP purchased a new position in shares of KeyCorp in the third quarter worth approximately $92,413,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of KeyCorp by 280.3% during 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 during the period. 79.69% of the stock is currently owned by institutional investors.
KEY has been the topic of a number of research analyst reports. Robert W. Baird downgraded KeyCorp from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $18.00 to $17.00 in a report on Monday, October 14th. Stephens reaffirmed an "overweight" rating and set a $20.00 target price on shares of KeyCorp in a research note on Wednesday. DA Davidson reduced their price target on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday. Wells Fargo & Company boosted their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Finally, Piper Sandler increased their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, KeyCorp presently has a consensus rating of "Moderate Buy" and an average price target of $19.58.
Read Our Latest Research Report on KEY
Shares of NYSE KEY traded up $0.22 during midday trading on Friday, hitting $17.69. The company's stock had a trading volume of 11,064,557 shares, compared to its average volume of 10,454,866. The firm has a market capitalization of $17.53 billion, a price-to-earnings ratio of -58.96, a P/E/G ratio of 0.65 and a beta of 1.27. The company has a current ratio of 0.85, a quick ratio of 0.88 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average price of $18.03 and a 200 day moving average price of $17.09. KeyCorp has a one year low of $13.10 and a one year high of $20.04.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp's payout ratio is -273.33%.
In related news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Angela G. Mago sold 15,011 shares of the company'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 completion of the sale, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company's stock.
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.
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