KeyCorp $KEY Shares Bought by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its holdings in KeyCorp by 30.4%, acquiring an additional 43,745 shares for a total of 187,585 shares valued at approximately $3.27 million.
• KeyCorp reported $0.35 earnings per share (EPS) for the last quarter, beating expectations and reflecting a 20.6% increase in revenue compared to the previous year.
• The company recently paid a quarterly dividend of $0.205 per share, resulting in an annualized dividend yield of 4.4%.

IFM Investors Pty Ltd grew its position in shares of KeyCorp (NYSE:KEY - Free Report) by 30.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 187,585 shares of the financial services provider's stock after acquiring an additional 43,745 shares during the quarter. IFM Investors Pty Ltd's holdings in KeyCorp were worth $3,268,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Tompkins Financial Corp acquired a new stake in KeyCorp in the second quarter worth about $26,000. Zions Bancorporation National Association UT acquired a new stake in KeyCorp in the 1st quarter valued at about $28,000. Allworth Financial LP lifted its holdings in KeyCorp by 246.9% in the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 1,543 shares during the last quarter. FSC Wealth Advisors LLC acquired a new stake in KeyCorp during the 1st quarter worth about $34,000. Finally, NBC Securities Inc. lifted its stake in KeyCorp by 123,900.0% during the first quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider's stock valued at $39,000 after buying an additional 2,478 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

KeyCorp Trading Down 1.8%

NYSE:KEY opened at $18.74 on Tuesday. The business's 50-day simple moving average is $18.53 and its 200-day simple moving average is $16.77. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The stock has a market capitalization of $20.54 billion, a PE ratio of -267.64, a price-to-earnings-growth ratio of 0.67 and a beta of 1.15. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY - Get Free Report) last announced its 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. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the firm earned $0.25 EPS. KeyCorp's revenue for the quarter was up 20.6% compared to the same quarter last year. Sell-side analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.205 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.4%. KeyCorp's dividend payout ratio is currently -1,171.43%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Baird R W lowered shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. DA Davidson upped their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. UBS Group raised shares of KeyCorp from a "neutral" rating to a "buy" rating and upped their price objective for the company from $16.00 to $22.00 in a research note on Tuesday, July 8th. Citigroup reiterated a "neutral" rating and issued a $20.00 target price (up previously from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Finally, Truist Financial increased their price objective on KeyCorp from $17.00 to $19.00 and gave the stock a "hold" rating in a report on Monday, July 28th. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $19.39.

Insider Transactions at KeyCorp

In other news, insider Andrew J. Paine III sold 44,953 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the sale, the insider owned 245,044 shares in the company, valued at $4,726,898.76. This represents a 15.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Trina M. Evans sold 17,000 shares of the company's stock in a transaction that occurred 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 sale, the director owned 82,719 shares in the company, valued at approximately $1,544,363.73. This represents a 17.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,102 shares of company stock worth $3,299,664 in the last 90 days. Corporate insiders own 0.52% of the company's stock.

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.

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