Alps Advisors Inc. Buys 204,485 Shares of KeyCorp (NYSE:KEY)

Alps Advisors Inc. lifted its stake in KeyCorp (NYSE:KEY - Free Report) by 15.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,540,704 shares of the financial services provider's stock after acquiring an additional 204,485 shares during the period. Alps Advisors Inc. owned approximately 0.14% of KeyCorp worth $24,636,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in KeyCorp in the fourth quarter worth $153,235,000. Vanguard Group Inc. raised its stake in shares of KeyCorp by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock valued at $2,004,228,000 after buying an additional 7,754,576 shares in the last quarter. Freestone Grove Partners LP bought a new position in shares of KeyCorp during the 4th quarter worth about $63,540,000. FMR LLC boosted its position in shares of KeyCorp by 7.1% during the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock valued at $761,556,000 after acquiring an additional 2,938,405 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in KeyCorp in the fourth quarter valued at about $42,827,000. Institutional investors own 79.69% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on KEY. Wells Fargo & Company raised their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Truist Financial cut their target price on KeyCorp from $18.00 to $16.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Bank of America boosted their price target on KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Keefe, Bruyette & Woods dropped their price objective on KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Finally, Baird R W cut KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, KeyCorp presently has a consensus rating of "Moderate Buy" and an average price target of $19.18.

Insider Transactions at KeyCorp

In related news, insider Amy G. Brady sold 19,000 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $16.09, for a total value of $305,710.00. Following the completion of the sale, the insider owned 82,523 shares in the company, valued at approximately $1,327,795.07. This represents a 18.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mohit Ramani purchased 10,000 shares of the stock in a transaction dated Monday, April 21st. The stock was bought at an average cost of $13.75 per share, with a total value of $137,500.00. Following the completion of the purchase, the insider owned 10,000 shares in the company, valued at $137,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.52% of the stock is owned by corporate insiders.

KeyCorp Trading Down 0.8%

Shares of KEY stock traded down $0.15 on Friday, reaching $18.34. 14,371,447 shares of the stock were exchanged, compared to its average volume of 13,177,731. The stock has a 50 day moving average price of $16.52 and a 200 day moving average price of $16.36. The stock has a market cap of $20.10 billion, a PE ratio of -107.88, a P/E/G ratio of 0.68 and a beta of 1.11. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 0.12% and a positive return on equity of 9.43%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm earned $0.20 EPS. Equities research analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date was Tuesday, May 27th. KeyCorp's dividend payout ratio (DPR) is currently -482.35%.

KeyCorp Company 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.