Signal Advisors Wealth LLC Purchases New Shares in KeyCorp $KEY

Key Points

• Signal Advisors Wealth LLC has acquired a new position in KeyCorp, purchasing 24,721 shares valued at approximately $431,000 during the second quarter.
• KeyCorp's recent quarterly earnings showed $1.84 billion in revenue, exceeding analyst estimates, and a net margin of 1.49%, with earnings per share rising from $0.25 to $0.35 year-over-year.
• The company declared a quarterly dividend of $0.205, yielding 4.3%, and reported a dividend payout ratio of -1,171.43%, indicating a high amount of retained earnings relative to dividends.

Signal Advisors Wealth LLC acquired a new stake in KeyCorp (NYSE:KEY - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 24,721 shares of the financial services provider's stock, valued at approximately $431,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC raised its holdings in shares of KeyCorp by 4.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider's stock valued at $1,101,000 after buying an additional 3,145 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of KeyCorp during the 1st quarter valued at about $2,171,000. Gradient Investments LLC purchased a new stake in shares of KeyCorp during the 2nd quarter valued at about $1,973,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of KeyCorp by 31.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 111,757 shares of the financial services provider's stock valued at $1,787,000 after buying an additional 26,615 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of KeyCorp by 5.1% during the 1st quarter. AQR Capital Management LLC now owns 417,667 shares of the financial services provider's stock valued at $6,495,000 after buying an additional 20,429 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at KeyCorp

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 completion of the transaction, the director owned 82,719 shares of the company's stock, valued at $1,544,363.73. This represents a 17.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew J. Paine III sold 44,953 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the completion of the transaction, the insider directly owned 245,044 shares of the company's stock, valued at approximately $4,726,898.76. This trade represents a 15.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,102 shares of company stock valued at $3,299,664 in the last quarter. Corporate insiders own 0.52% of the company's stock.

KeyCorp Stock Up 1.7%

Shares of KEY traded up $0.33 during trading hours on Tuesday, hitting $19.05. 2,602,186 shares of the company were exchanged, compared to its average volume of 18,608,982. The company has a market cap of $20.88 billion, a PE ratio of -272.21, a PEG ratio of 0.67 and a beta of 1.15. The firm's 50 day moving average is $18.53 and its 200-day moving average is $16.77. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84.

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 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 firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The firm's revenue for the quarter was up 20.6% compared to the same quarter last year. On average, equities research analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.82 annualized dividend and a yield of 4.3%. KeyCorp's dividend payout ratio is -1,171.43%.

Analyst Upgrades and Downgrades

KEY has been the topic of several analyst reports. UBS Group upgraded KeyCorp from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $16.00 to $22.00 in a report on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on KeyCorp from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. DA Davidson lifted their price objective on KeyCorp from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Bank of America boosted their price target on KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a report on Monday, June 16th. Finally, Robert W. Baird lowered KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price objective for the company. in a research report on Wednesday, July 2nd. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $19.39.

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.