KeyCorp (NYSE:KEY) Stock Position Cut by Stephens Inc. AR

Stephens Inc. AR lessened its stake in KeyCorp (NYSE:KEYGet Rating) by 44.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,933 shares of the financial services provider’s stock after selling 17,897 shares during the period. Stephens Inc. AR’s holdings in KeyCorp were worth $491,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale boosted its position in shares of KeyCorp by 2.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 284,301 shares of the financial services provider’s stock valued at $6,541,000 after purchasing an additional 5,545 shares in the last quarter. Regentatlantic Capital LLC bought a new position in shares of KeyCorp during the 1st quarter valued at about $215,000. Atria Investments LLC boosted its position in shares of KeyCorp by 8.7% during the 1st quarter. Atria Investments LLC now owns 60,445 shares of the financial services provider’s stock valued at $1,353,000 after purchasing an additional 4,836 shares in the last quarter. DNB Asset Management AS boosted its position in shares of KeyCorp by 11.5% during the 1st quarter. DNB Asset Management AS now owns 209,960 shares of the financial services provider’s stock valued at $4,699,000 after purchasing an additional 21,639 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of KeyCorp by 22.9% during the 4th quarter. First Trust Advisors LP now owns 3,097,095 shares of the financial services provider’s stock valued at $71,636,000 after purchasing an additional 576,948 shares in the last quarter. Institutional investors own 83.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KEY. Morgan Stanley raised their target price on shares of KeyCorp from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, July 22nd. Piper Sandler set a $19.00 target price on shares of KeyCorp in a report on Monday, June 20th. JPMorgan Chase & Co. decreased their target price on shares of KeyCorp from $25.00 to $20.50 and set a “neutral” rating for the company in a report on Friday, July 1st. Odeon Capital Group cut shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. Finally, Barclays decreased their target price on shares of KeyCorp from $26.00 to $24.00 and set a “maintains” rating for the company in a report on Friday, July 22nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.25.

KeyCorp Price Performance

Shares of KEY opened at $18.11 on Thursday. The firm has a market cap of $16.89 billion, a PE ratio of 7.94, a PEG ratio of 0.45 and a beta of 1.32. The firm’s 50 day moving average price is $18.06 and its 200 day moving average price is $21.12. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.81 and a current ratio of 0.81. KeyCorp has a twelve month low of $16.41 and a twelve month high of $27.17.

KeyCorp (NYSE:KEYGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.76 billion. KeyCorp had a net margin of 28.53% and a return on equity of 15.01%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. As a group, research analysts expect that KeyCorp will post 2.23 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Tuesday, August 30th will be given a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Monday, August 29th. KeyCorp’s dividend payout ratio is 34.21%.

About KeyCorp

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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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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