Mackenzie Financial Corp Has $2.73 Million Holdings in KeyCorp (NYSE:KEY)

Key Points

• Mackenzie Financial Corp has reduced its position in KeyCorp by 39.2%, holding $2.73 million worth of the company's shares after selling 109,874 shares.
• KeyCorp's stock has opened at $17.63 and has a market capitalization of $19.32 billion, with analysts currently holding a consensus rating of "Hold" and an average price target of $19.39.
• The company recently announced a quarterly dividend of $0.205 per share, resulting in an annualized dividend yield of 4.7%.

Mackenzie Financial Corp reduced its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 39.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 170,605 shares of the financial services provider's stock after selling 109,874 shares during the quarter. Mackenzie Financial Corp's holdings in KeyCorp were worth $2,728,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new stake in shares of KeyCorp during the 4th quarter worth approximately $28,000. Allworth Financial LP boosted its stake in 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 in the last quarter. FSC Wealth Advisors LLC bought a new stake in KeyCorp in the first quarter worth about $34,000. NBC Securities Inc. grew its position in KeyCorp by 123,900.0% in the first quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider's stock worth $39,000 after buying an additional 2,478 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of KeyCorp by 44.1% during the first quarter. Capital Advisors Ltd. LLC now owns 2,504 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 766 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

Insider Activity

In other KeyCorp news, 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 $1,544,363.73. This represents a 17.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carlton L. Highsmith sold 5,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the sale, the director directly owned 37,177 shares of the company's stock, valued at $617,138.20. This represents a 11.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 153,149 shares of company stock worth $2,821,230. Insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on KEY shares. Morgan Stanley reiterated an "equal weight" rating on shares of KeyCorp in a report on Thursday, April 17th. Jefferies Financial Group initiated coverage on KeyCorp in a research report on Wednesday, May 21st. They issued a "hold" rating and a $18.00 price target on the stock. Bank of America boosted their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Cowen assumed coverage on shares of KeyCorp in a research note on Wednesday, May 14th. They set a "hold" rating on the stock. Finally, Truist Financial boosted their price target on KeyCorp from $17.00 to $19.00 and gave the company a "hold" rating in a research note on Monday, July 28th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $19.39.

KeyCorp Trading Up 1.0%

Shares of NYSE KEY traded up $0.18 during midday trading on Monday, reaching $17.83. 34,804,241 shares of the stock were exchanged, compared to its average volume of 16,647,234. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The business has a 50-day simple moving average of $17.22 and a two-hundred day simple moving average of $16.47. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of -254.71, a P/E/G ratio of 0.62 and a beta of 1.13. 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 posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company 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%. KeyCorp's revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. As a group, equities research analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The company 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. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. KeyCorp's dividend payout ratio (DPR) is -1,171.43%.

About KeyCorp

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.