KeyCorp $KEY Stock Holdings Increased by Credit Agricole S A

Key Points

• Credit Agricole S A increased its stake in KeyCorp by 29.3% in the first quarter, holding 472,236 shares valued at approximately $7.55 million.
• KeyCorp received a ratings upgrade from UBS Group, raising its price target from $16.00 to $22.00, reflecting growing confidence among analysts.
• The company announced a quarterly dividend of $0.205 per share, translating to an annualized dividend of $0.82 and a yield of 4.5%.

Credit Agricole S A boosted its position in KeyCorp (NYSE:KEY - Free Report) by 29.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 472,236 shares of the financial services provider's stock after purchasing an additional 107,082 shares during the period. Credit Agricole S A's holdings in KeyCorp were worth $7,551,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Fourth Dimension Wealth LLC purchased a new position in KeyCorp in the 4th quarter worth approximately $28,000. Zions Bancorporation National Association UT bought a new position in shares of KeyCorp during the 1st quarter valued at approximately $28,000. Allworth Financial LP increased its position in shares of KeyCorp by 246.9% during the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 1,543 shares during the last quarter. FSC Wealth Advisors LLC bought a new position in shares of KeyCorp during the 1st quarter valued at approximately $34,000. Finally, NBC Securities Inc. grew its position in KeyCorp by 123,900.0% in the 1st quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 2,478 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KEY has been the subject of several research reports. Wells Fargo & Company upped their target price on KeyCorp from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. DA Davidson increased their price objective on KeyCorp from $19.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Truist Financial raised their target price on KeyCorp from $17.00 to $19.00 and gave the stock a "hold" rating in a report on Monday, July 28th. Baird R W downgraded KeyCorp from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Finally, Robert W. Baird cut KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price target for the company. in a research report on Wednesday, July 2nd. Ten analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $19.39.

Insider Activity

In related news, Director Trina M. Evans sold 17,000 shares of KeyCorp stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the transaction, the director owned 82,719 shares in the company, valued at approximately $1,544,363.73. This trade represents a 17.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher M. Gorman sold 112,149 shares of KeyCorp stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total value of $2,115,130.14. Following the completion of the transaction, the chief executive officer owned 619,895 shares in the company, valued at $11,691,219.70. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,149 shares of company stock valued at $2,738,230 over the last quarter. Company insiders own 0.52% of the company's stock.

KeyCorp Stock Performance

Shares of NYSE KEY traded up $0.06 during trading hours on Wednesday, reaching $19.36. The stock had a trading volume of 6,795,039 shares, compared to its average volume of 17,441,279. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The firm has a 50-day moving average of $17.95 and a 200-day moving average of $16.52. 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 firm has a market cap of $21.22 billion, a price-to-earnings ratio of -276.64, a PEG ratio of 0.67 and a beta of 1.13.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The business had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same period last year, the firm earned $0.25 EPS. The company's quarterly revenue was up 20.6% compared to the same quarter last year. Equities research analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently disclosed 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 of this dividend is Tuesday, September 2nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.2%. KeyCorp's payout ratio is currently -1,171.43%.

KeyCorp 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.