Wealth Enhancement Advisory Services LLC Has $3.22 Million Position in KeyCorp $KEY

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in KeyCorp by 13.2% in Q2, holding 174,483 shares valued at approximately $3.22 million.
• KeyCorp recently declared a quarterly dividend of $0.205, equivalent to an annualized yield of 4.3%, with a payout ratio of -1,171.43%.
• Analysts have mixed opinions on KeyCorp, with a consensus rating of "Moderate Buy" and an average price target of $19.58.

Wealth Enhancement Advisory Services LLC lifted its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 13.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 174,483 shares of the financial services provider's stock after acquiring an additional 20,414 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in KeyCorp were worth $3,221,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of KEY. Tompkins Financial Corp acquired a new position in shares of KeyCorp during the 2nd quarter valued at $26,000. Zions Bancorporation National Association UT bought a new stake in KeyCorp during the 1st quarter valued at $28,000. Allworth Financial LP increased 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 during the 1st quarter valued at $34,000. Finally, NBC Securities Inc. increased its stake in KeyCorp by 123,900.0% during the 1st quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 2,478 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup restated a "neutral" rating and set a $20.00 price target (up previously from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Truist Financial boosted their price target on shares of KeyCorp from $17.00 to $19.00 and gave the company a "hold" rating in a research note on Monday, July 28th. Wells Fargo & Company boosted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Jefferies Financial Group decreased their price target on shares of KeyCorp from $21.00 to $20.00 and set a "hold" rating for the company in a research note on Wednesday. Finally, UBS Group upgraded shares of KeyCorp from a "neutral" rating to a "buy" rating and boosted their price target for the company from $16.00 to $22.00 in a research note on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.58.

Insider Buying and Selling

In related news, insider Andrew J. Paine III sold 44,953 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the transaction, the insider directly owned 245,044 shares of the company's stock, valued at approximately $4,726,898.76. The trade was a 15.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Trina M. Evans sold 17,000 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $18.67, for a total transaction of $317,390.00. Following the completion of the transaction, the director directly owned 82,719 shares in the company, valued at $1,544,363.73. This trade represents a 17.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 174,102 shares of company stock valued at $3,299,664. 0.52% of the stock is owned by insiders.

KeyCorp Stock Performance

NYSE KEY opened at $18.89 on Friday. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $20.71 billion, a price-to-earnings ratio of -269.79, a PEG ratio of 0.66 and a beta of 1.15. The company has a fifty day moving average price of $18.58 and a 200-day moving average price of $16.85.

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

KeyCorp Announces Dividend

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

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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