J.W. Cole Advisors Inc. Acquires New Position in KeyCorp (NYSE:KEY)

J.W. Cole Advisors Inc. acquired a new stake in shares of KeyCorp (NYSE:KEYGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 64,394 shares of the financial services provider’s stock, valued at approximately $54,000.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of KeyCorp by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 111,201,600 shares of the financial services provider’s stock valued at $2,488,691,000 after acquiring an additional 1,278,193 shares during the period. BlackRock Inc. grew its stake in shares of KeyCorp by 2.1% during the 4th quarter. BlackRock Inc. now owns 83,634,140 shares of the financial services provider’s stock valued at $1,934,456,000 after acquiring an additional 1,682,794 shares during the period. Capital International Investors grew its stake in shares of KeyCorp by 8.6% during the 4th quarter. Capital International Investors now owns 83,201,801 shares of the financial services provider’s stock valued at $1,924,458,000 after acquiring an additional 6,586,364 shares during the period. Royal Bank of Canada grew its stake in shares of KeyCorp by 0.6% during the 1st quarter. Royal Bank of Canada now owns 21,965,131 shares of the financial services provider’s stock valued at $491,578,000 after acquiring an additional 136,741 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in KeyCorp by 5.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,127,773 shares of the financial services provider’s stock worth $338,560,000 after purchasing an additional 834,564 shares during the period. 83.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wolfe Research dropped their price target on KeyCorp from $23.00 to $17.00 and set an “underperform” rating for the company in a research note on Thursday, May 26th. JPMorgan Chase & Co. dropped their price target on KeyCorp from $25.00 to $20.50 and set a “neutral” rating for the company in a research note on Friday, July 1st. The Goldman Sachs Group dropped their price target on KeyCorp from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, May 31st. Piper Sandler set a $19.00 price target on KeyCorp in a research note on Monday, June 20th. Finally, Jefferies Financial Group dropped their price target on KeyCorp from $23.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, July 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, KeyCorp currently has a consensus rating of “Hold” and an average target price of $23.37.

KeyCorp Stock Performance

NYSE:KEY opened at $16.58 on Friday. The stock’s fifty day moving average is $18.22 and its 200 day moving average is $19.36. KeyCorp has a fifty-two week low of $16.41 and a fifty-two week high of $27.17. The firm has a market capitalization of $15.46 billion, a PE ratio of 7.27, a PEG ratio of 0.43 and a beta of 1.30. 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 (NYSE:KEYGet Rating) last released its quarterly earnings results 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. KeyCorp had a return on equity of 15.01% and a net margin of 28.53%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. KeyCorp’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that KeyCorp will post 2.24 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 30th were issued a dividend of $0.195 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.78 annualized dividend and a yield of 4.70%. KeyCorp’s payout ratio is presently 34.21%.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 5,200 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $17.59, for a total value of $91,468.00. Following the transaction, the director now owns 64,139 shares of the company’s stock, valued at approximately $1,128,205.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

KeyCorp Company Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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