Meeder Advisory Services Inc. Raises Holdings in KeyCorp (NYSE:KEY)

by · The Cerbat Gem

Meeder Advisory Services Inc. increased its position in KeyCorp (NYSE:KEY – Free Report) by 18.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,753 shares of the financial services provider’s stock after acquiring an additional 5,703 shares during the quarter. Meeder Advisory Services Inc.’s holdings in KeyCorp were worth $616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its stake in shares of KeyCorp by 280.3% in the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after purchasing an additional 3,668,168 shares in the last quarter. Ceredex Value Advisors LLC grew its stake in KeyCorp by 112.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after buying an additional 3,517,755 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in 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. Victory Capital Management Inc. lifted its position in shares of KeyCorp by 279.6% during 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. Finally, Point72 Asset Management L.P. bought a new position in shares of KeyCorp in the second quarter worth $33,273,000. 79.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 approximately $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on KEY shares. The Goldman Sachs Group set a $19.00 price objective on KeyCorp in a research note on Thursday, October 17th. Wells Fargo & Company increased their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Wedbush raised their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Baird R W lowered shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a report on Tuesday, September 10th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.03.

Read Our Latest Analysis on KEY

KeyCorp Stock Performance

Shares of KEY stock opened at $19.00 on Wednesday. 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 company has a 50 day moving average price of $17.36 and a 200-day moving average price of $15.88. KeyCorp has a 52 week low of $11.64 and a 52 week high of $20.00. The firm has a market capitalization of $18.83 billion, a PE ratio of 1,900.00, a P/E/G ratio of 1.05 and a beta of 1.24.

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

KeyCorp Company Profile

(Free Report)

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.

See Also

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