Equitable Trust Co. acquired a new stake in KeyCorp (NYSE:KEY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 67,790 shares of the financial services provider's stock, valued at approximately $1,084,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Integrated Wealth Concepts LLC grew its stake 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 worth $423,000 after purchasing an additional 631 shares during the period. SBI Securities Co. Ltd. grew its stake in KeyCorp by 34.0% in the first quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider's stock worth $42,000 after purchasing an additional 671 shares during the period. Centaurus Financial Inc. grew its stake in KeyCorp by 11.2% in the fourth quarter. Centaurus Financial Inc. now owns 7,218 shares of the financial services provider's stock worth $124,000 after purchasing an additional 728 shares during the period. CIBC Private Wealth Group LLC grew its stake in KeyCorp by 4.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 17,050 shares of the financial services provider's stock worth $292,000 after purchasing an additional 731 shares during the period. Finally, Capital Advisors Ltd. LLC grew its stake in shares of KeyCorp by 44.1% in the first 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 during the last quarter. Institutional investors own 79.69% of the company's stock.
KeyCorp Stock Performance
Shares of KEY traded up $0.06 during mid-day trading on Wednesday, reaching $18.45. The company had a trading volume of 15,130,766 shares, compared to its average volume of 15,846,510. The stock has a market capitalization of $20.21 billion, a P/E ratio of -263.53, a PEG ratio of 0.65 and a beta of 1.11. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The stock has a 50 day moving average of $17.08 and a two-hundred day moving average of $16.47. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71.
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. The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.81 billion. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%. The business's revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. On average, analysts expect 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. Shareholders of record on Tuesday, September 2nd will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Tuesday, September 2nd. KeyCorp's dividend payout ratio is presently -1,171.43%.
Analysts Set New Price Targets
KEY has been the topic of a number of recent research reports. Wall Street Zen raised KeyCorp from a "sell" rating to a "hold" rating in a research note on Monday, April 21st. DA Davidson increased their target price on KeyCorp from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. TD Cowen initiated coverage on KeyCorp in a research report on Thursday, May 15th. They set a "hold" rating and a $18.00 price objective on the stock. Finally, Bank of America increased their price objective on KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Twelve 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, the company currently has a consensus rating of "Hold" and an average price target of $19.39.
Read Our Latest Stock Analysis on KEY
Insider Transactions at KeyCorp
In related news, CEO Christopher M. Gorman sold 112,149 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total value of $2,115,130.14. Following the sale, the chief executive officer owned 619,895 shares of the company's stock, valued at approximately $11,691,219.70. This represents a 15.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Amy G. Brady sold 19,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $16.09, for a total value of $305,710.00. Following the completion of the sale, the insider directly owned 82,523 shares in the company, valued at approximately $1,327,795.07. The trade was a 18.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 153,149 shares of company stock worth $2,821,230 over the last quarter. Insiders own 0.52% of the company's stock.
About KeyCorp
(
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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