Forsta AP Fonden Has $4.08 Million Stock Position in KeyCorp (NYSE:KEY)

Forsta AP Fonden lessened its position in shares of KeyCorp (NYSE:KEY) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 238,300 shares of the financial services provider’s stock after selling 6,800 shares during the quarter. Forsta AP Fonden’s holdings in KeyCorp were worth $4,084,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Azora Capital LP acquired a new stake in KeyCorp during the third quarter worth approximately $92,413,000. Assenagon Asset Management S.A. increased its stake in shares of 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 valued at $83,364,000 after acquiring an additional 3,668,168 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of KeyCorp by 108.3% during 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 acquiring an additional 3,042,060 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in 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 worth $78,066,000 after acquiring an additional 2,900,971 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in 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 purchasing an additional 2,790,192 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $18.01 on Friday. KeyCorp has a 12 month low of $13.10 and a 12 month high of $20.04. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The stock has a market cap of $17.85 billion, a P/E ratio of -60.01, a P/E/G ratio of 0.64 and a beta of 1.27. The company has a 50 day moving average of $17.89 and a 200 day moving average of $17.19.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 4.55%. KeyCorp’s payout ratio is currently -273.32%.

Insider Activity

In other news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction 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 sale, the insider now directly owns 234,582 shares of the company’s stock, 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.

Wall Street Analysts Forecast Growth

KEY has been the topic of several research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. Barclays increased their price target on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Morgan Stanley lowered their target price on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods reduced their price target on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Finally, Stephens restated an “overweight” rating and set a $20.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.58.

KeyCorp Profile

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.