Assenagon Asset Management S.A. Purchases 3,668,168 Shares of KeyCorp (NYSE:KEY)

by · The Markets Daily

Assenagon Asset Management S.A. increased its position in KeyCorp (NYSE:KEY – Free Report) by 280.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,976,965 shares of the financial services provider’s stock after purchasing an additional 3,668,168 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.53% of KeyCorp worth $83,364,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in KEY. Ceredex Value Advisors LLC raised its stake in KeyCorp by 112.4% during the second 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 during the last quarter. Westfield Capital Management Co. LP bought a new position in KeyCorp in the 1st quarter worth about $42,857,000. National Bank of Canada FI grew its position in KeyCorp by 1,051.3% during the 1st quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider’s stock valued at $38,752,000 after purchasing an additional 2,346,565 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in KeyCorp during the 2nd quarter valued at about $33,273,000. Finally, Earnest Partners LLC raised its holdings in KeyCorp by 23.2% in the second quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock worth $176,631,000 after buying an additional 2,339,454 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Price Performance

Shares of KeyCorp stock traded up $0.09 on Thursday, reaching $17.17. The company’s stock had a trading volume of 4,449,695 shares, compared to its average volume of 14,216,993. KeyCorp has a 52-week low of $9.50 and a 52-week high of $17.94. The company has a market capitalization of $16.19 billion, a P/E ratio of 1,712.00, a PEG ratio of 0.94 and a beta of 1.25. 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 stock has a 50-day moving average price of $16.70 and a 200-day moving average price of $15.39.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KEY. Evercore ISI boosted their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Wedbush boosted their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $17.00 in a report on Monday, October 14th. Finally, Citigroup set a $19.00 target price on shares of KeyCorp in a report on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.79.

Read Our Latest Report on KEY

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the sale, the director now directly owns 46,864 shares in the company, valued at $759,665.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by company insiders.

KeyCorp 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.

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