Corient Private Wealth LP Has $10.75 Million Stake in KeyCorp $KEY

Key Points

• Corient Private Wealth LP reduced its KeyCorp stake by 18.7% in the second quarter, selling 106,963 shares and retaining 466,392 shares valued at approximately $10.75 million.
• Analysts remain generally positive, with KeyCorp receiving a consensus “Moderate Buy” rating and a reported average price target of $49.14, though individual targets cited range from $25 to $28.
• KeyCorp reported quarterly EPS of $0.44, exceeding estimates of $0.42, while revenue rose 6.7% year over year to $1.96 billion. The company also paid a quarterly dividend of $0.205 per share, representing a 4.0% annualized yield.

Corient Private Wealth LP lessened its position in KeyCorp (NYSE:KEY - Free Report) by 18.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 466,392 shares of the financial services provider's stock after selling 106,963 shares during the period. Corient Private Wealth LP's holdings in KeyCorp were worth $10,750,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. MCF Advisors LLC boosted its position in KeyCorp by 31.6% during the 4th quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider's stock worth $39,000 after buying an additional 456 shares during the period. Harbour Investments Inc. raised its position in KeyCorp by 19.0% during the 4th quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider's stock worth $66,000 after purchasing an additional 508 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in KeyCorp by 5.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the financial services provider's stock worth $206,000 after purchasing an additional 522 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in KeyCorp by 1.7% during the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 32,493 shares of the financial services provider's stock worth $650,000 after buying an additional 556 shares during the period. Finally, V Square Quantitative Management LLC lifted its holdings in KeyCorp by 2.2% during the 1st quarter. V Square Quantitative Management LLC now owns 26,258 shares of the financial services provider's stock worth $526,000 after buying an additional 567 shares during the period. 79.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KEY. Stephens reissued an "overweight" rating and issued a $26.00 price target on shares of KeyCorp in a research note on Tuesday. Morgan Stanley lifted their price objective on KeyCorp from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods upped their target price on KeyCorp from $25.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, July 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of KeyCorp in a research report on Friday, August 7th. Finally, DA Davidson restated a "buy" rating and set a $28.00 price target on shares of KeyCorp in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.14.

KeyCorp Stock Down 4.6%

KeyCorp stock opened at $20.70 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.63. KeyCorp has a 12-month low of $16.47 and a 12-month high of $24.07. The firm's fifty day moving average is $22.48 and its 200 day moving average is $21.75. The company has a market capitalization of $22.09 billion, a PE ratio of 12.04, a PEG ratio of 0.82 and a beta of 1.02.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the firm earned $0.35 earnings per share. KeyCorp's revenue was up 6.7% on a year-over-year basis. As a group, sell-side analysts predict that KeyCorp will post 1.83 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, September 1st. KeyCorp's dividend payout ratio is 47.67%.

KeyCorp Company Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Founded in 1825, KeyBank is one of the largest regional banks in the United States and provides banking and financial services to individuals, businesses, institutions and government entities.

KeyBank's consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, personal loans, credit cards and financial planning.

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