5,517,182 Shares in KeyCorp (NYSE:KEY) Bought by Azora Capital LP

Azora Capital LP acquired a new position in shares of KeyCorp (NYSE:KEY) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,517,182 shares of the financial services provider’s stock, valued at approximately $92,413,000. KeyCorp accounts for about 5.0% of Azora Capital LP’s holdings, making the stock its 4th biggest holding.

A number of other hedge funds have also bought and sold shares of KEY. Wolff Wiese Magana LLC raised its holdings in shares of KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,142 shares during the period. American Capital Advisory LLC bought a new position in KeyCorp in the 3rd quarter valued at $28,000. Larson Financial Group LLC increased its stake in KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 918 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of KeyCorp during the third quarter worth $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of KeyCorp during the third quarter valued at $38,000. Institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on KEY. Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price target on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. DA Davidson increased their price objective on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Wedbush raised their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Finally, Morgan Stanley upped their target price on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.26.

KeyCorp Trading Down 0.2 %

NYSE KEY opened at $19.48 on Monday. KeyCorp has a 52 week low of $12.22 and a 52 week high of $20.04. The company has a 50 day moving average price of $17.83 and a 200 day moving average price of $16.12. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The firm has a market cap of $19.31 billion, a PE ratio of 1,948.00, a price-to-earnings-growth ratio of 1.07 and a beta of 1.25.

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

KeyCorp Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 4.21%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s dividend payout ratio is presently 8,200.00%.

Insider Transactions at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction dated 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 directly owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $294,065.49. Following the completion of the transaction, the insider now owns 234,582 shares in the company, 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. Insiders own 0.67% 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.