KeyCorp (NYSE:KEY) Receives Average Recommendation of “Hold” from Analysts

KeyCorp (NYSE:KEY – Get Rating) has been given a consensus rating of “Hold” by the eighteen brokerages that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $19.83.

KEY has been the subject of several recent analyst reports. Barclays upgraded KeyCorp from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $21.00 to $24.00 in a research note on Tuesday, January 3rd. Piper Sandler upgraded KeyCorp from an “underweight” rating to a “neutral” rating and lowered their target price for the company from $18.50 to $16.50 in a research note on Friday, March 10th. Keefe, Bruyette & Woods lowered their target price on KeyCorp from $20.00 to $19.00 and set a “market perform” rating for the company in a research note on Wednesday, March 8th. Deutsche Bank Aktiengesellschaft decreased their price target on KeyCorp from $23.00 to $20.00 in a research note on Friday, January 6th. Finally, JPMorgan Chase & Co. decreased their price target on KeyCorp from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Monday, January 23rd.

Insider Buying and Selling at KeyCorp

In related news, Director Ruth Ann M. Gillis bought 2,000 shares of the firm’s stock in a transaction on Tuesday, March 14th. The stock was bought at an average cost of $12.95 per share, for a total transaction of $25,900.00. Following the completion of the purchase, the director now directly owns 42,961 shares in the company, valued at approximately $556,344.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Angela G. Mago sold 5,352 shares of KeyCorp stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $19.95, for a total transaction of $106,772.40. Following the sale, the insider now owns 194,280 shares of the company’s stock, valued at $3,875,886. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ruth Ann M. Gillis purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, March 14th. The shares were acquired at an average cost of $12.95 per share, for a total transaction of $25,900.00. Following the acquisition, the director now owns 42,961 shares of the company’s stock, valued at approximately $556,344.95. The disclosure for this purchase can be found here. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On KeyCorp

A number of hedge funds have recently made changes to their positions in the business. Cetera Advisor Networks LLC raised its holdings in KeyCorp by 37.9% during the first quarter. Cetera Advisor Networks LLC now owns 12,740 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 3,504 shares in the last quarter. Sei Investments Co. raised its holdings in KeyCorp by 12.9% during the first quarter. Sei Investments Co. now owns 1,183,502 shares of the financial services provider’s stock worth $26,543,000 after purchasing an additional 135,193 shares in the last quarter. Aviva PLC raised its holdings in KeyCorp by 177.0% during the first quarter. Aviva PLC now owns 525,009 shares of the financial services provider’s stock worth $11,750,000 after purchasing an additional 335,457 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in KeyCorp during the first quarter worth approximately $38,000. Finally, Allianz Asset Management GmbH raised its holdings in KeyCorp by 10.6% during the first quarter. Allianz Asset Management GmbH now owns 212,557 shares of the financial services provider’s stock worth $4,757,000 after purchasing an additional 20,384 shares in the last quarter. Institutional investors own 82.11% of the company’s stock.

KeyCorp Trading Up 4.5 %

NYSE:KEY opened at $12.28 on Friday. The business’s 50-day moving average is $17.95 and its two-hundred day moving average is $17.69. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.84 and a quick ratio of 0.84. KeyCorp has a 12 month low of $9.60 and a 12 month high of $24.62. The firm has a market capitalization of $11.44 billion, a PE ratio of 6.40, a price-to-earnings-growth ratio of 0.96 and a beta of 1.31.

KeyCorp (NYSE:KEY – Get Rating) last released its quarterly earnings data on Thursday, January 19th. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.17). The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.93 billion. KeyCorp had a net margin of 22.46% and a return on equity of 15.27%. During the same period last year, the business earned $0.64 earnings per share. Research analysts predict that KeyCorp will post 1.99 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were paid a $0.205 dividend. The ex-dividend date of this dividend was Monday, February 27th. This represents a $0.82 dividend on an annualized basis and a yield of 6.68%. KeyCorp’s payout ratio is currently 42.71%.

KeyCorp Company Profile

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KeyCorp operates as a bank holding company, which engages in the provision of financial services. It provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.