SG Americas Securities LLC Acquires 264,475 Shares of KeyCorp $KEY

SG Americas Securities LLC boosted its holdings in shares of KeyCorp (NYSE:KEY) by 131.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 465,075 shares of the financial services provider’s stock after buying an additional 264,475 shares during the period. SG Americas Securities LLC’s holdings in KeyCorp were worth $9,599,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KEY. Wellington Management Group LLP grew its holdings in shares of KeyCorp by 90.2% during the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock valued at $679,768,000 after buying an additional 17,245,128 shares during the last quarter. Capital World Investors lifted its position in KeyCorp by 169.2% in the 3rd quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider’s stock valued at $388,546,000 after acquiring an additional 13,067,326 shares in the last quarter. Norges Bank bought a new position in KeyCorp in the 2nd quarter valued at about $195,642,000. HoldCo Asset Management LP acquired a new position in KeyCorp during the 2nd quarter valued at about $86,995,000. Finally, Two Sigma Investments LP bought a new stake in KeyCorp during the 3rd quarter worth approximately $66,683,000. 79.69% of the stock is owned by institutional investors.

Insider Buying and Selling at KeyCorp

In related news, Director Trina M. Evans sold 32,695 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total value of $710,789.30. Following the transaction, the director directly owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. The trade was a 35.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 62,850 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the transaction, the insider owned 261,415 shares of the company’s stock, valued at approximately $5,633,493.25. The trade was a 19.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 161,506 shares of company stock worth $3,597,481 in the last quarter. 0.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KEY has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Stephens lifted their target price on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Evercore upped their price target on KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. DA Davidson set a $25.00 price target on KeyCorp in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company set a $18.00 price objective on KeyCorp and gave the company an “underperform” rating in a research note on Tuesday, January 6th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $22.97.

KeyCorp Price Performance

KeyCorp stock opened at $19.43 on Monday. KeyCorp has a 52 week low of $12.73 and a 52 week high of $23.34. The company’s 50 day moving average price is $20.96 and its two-hundred day moving average price is $19.69. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The stock has a market cap of $21.17 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.63 and a beta of 1.08.

KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.KeyCorp’s quarterly revenue was up 131.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 earnings per share. On average, equities analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Tuesday, March 3rd. KeyCorp’s dividend payout ratio is 53.95%.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.