Algebris UK Ltd increased its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 84.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,298,907 shares of the financial services provider's stock after acquiring an additional 593,684 shares during the period. KeyCorp makes up about 3.5% of Algebris UK Ltd's portfolio, making the stock its 14th largest holding. Algebris UK Ltd owned 0.12% of KeyCorp worth $19,227,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the business. Integrated Wealth Concepts LLC lifted its position in KeyCorp by 2.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider's stock valued at $423,000 after buying an additional 631 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in KeyCorp by 34.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider's stock worth $42,000 after acquiring an additional 671 shares in the last quarter. Centaurus Financial Inc. lifted its stake in KeyCorp by 11.2% during the 4th quarter. Centaurus Financial Inc. now owns 7,218 shares of the financial services provider's stock worth $124,000 after acquiring an additional 728 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in KeyCorp by 4.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 17,050 shares of the financial services provider's stock worth $292,000 after acquiring an additional 731 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its stake in KeyCorp by 44.1% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,504 shares of the financial services provider's stock worth $40,000 after acquiring an additional 766 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at KeyCorp
In other news, insider Amy G. Brady sold 19,000 shares of KeyCorp stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.09, for a total transaction of $305,710.00. Following the completion of the sale, the insider directly owned 82,523 shares in the company, valued at $1,327,795.07. The trade was a 18.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of KeyCorp stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total transaction of $83,000.00. Following the sale, the director owned 37,177 shares of the company's stock, valued at approximately $617,138.20. This trade represents a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,149 shares of company stock valued at $2,821,230 over the last three months. Company insiders own 0.52% of the company's stock.
KeyCorp Stock Performance
Shares of KeyCorp stock traded down $0.32 during trading hours on Friday, hitting $17.60. 45,716,857 shares of the company were exchanged, compared to its average volume of 16,454,164. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average of $17.18 and a 200-day moving average of $16.49. The stock has a market capitalization of $19.29 billion, a price-to-earnings ratio of -252.16, a P/E/G ratio of 0.64 and a beta of 1.11.
KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The business's revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 EPS. As a group, analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.
KeyCorp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a $0.205 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.82 annualized dividend and a dividend yield of 4.7%. KeyCorp's dividend payout ratio is currently -1,171.43%.
Wall Street Analysts Forecast Growth
KEY has been the subject of a number of recent research reports. Cowen initiated coverage on KeyCorp in a report on Wednesday, May 14th. They issued a "hold" rating for the company. JPMorgan Chase & Co. lowered their target price on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. UBS Group upgraded shares of KeyCorp from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $16.00 to $22.00 in a research note on Tuesday, July 8th. Royal Bank Of Canada reiterated an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, Jefferies Financial Group started coverage on shares of KeyCorp in a research note on Wednesday, May 21st. They set a "hold" rating and a $18.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $19.39.
View Our Latest Analysis on KEY
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.
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