KeyCorp (NYSE:KEY) Given Neutral Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of KeyCorp (NYSE:KEY) in a report issued on Monday, MarketBeat Ratings reports. The firm currently has a $18.50 target price on the financial services provider’s stock.

Several other research analysts also recently weighed in on KEY. UBS Group lifted their target price on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods cut their price objective on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Finally, Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Thursday, November 7th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.69.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $17.51 on Monday. KeyCorp has a one year low of $13.10 and a one year high of $20.04. The stock has a market capitalization of $17.35 billion, a price-to-earnings ratio of -58.35, a PEG ratio of 0.66 and a beta of 1.27. The company has a 50-day simple moving average of $17.89 and a 200-day simple moving average of $17.21. 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 disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is -273.33%.

Insider Activity

In related news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction 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 directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

A number of large investors have recently modified their holdings of KEY. Azora Capital LP purchased a new stake in shares of KeyCorp during the third quarter valued at approximately $92,413,000. Assenagon Asset Management S.A. lifted its holdings in KeyCorp by 280.3% in 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 buying an additional 3,668,168 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in 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 buying an additional 3,042,060 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of KeyCorp by 164.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock valued at $78,066,000 after acquiring an additional 2,900,971 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of KeyCorp by 279.6% in the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock worth $63,452,000 after acquiring an additional 2,790,192 shares in the last quarter. Institutional investors and hedge funds own 79.69% 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.