Robeco Institutional Asset Management B.V. reduced its stake in KeyCorp (NYSE:KEY – Get Rating) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 999,529 shares of the financial services provider’s stock after selling 8,527 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in KeyCorp were worth $16,014,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of KEY. Cetera Advisor Networks LLC grew its stake in shares of KeyCorp by 37.9% in the 1st quarter. Cetera Advisor Networks LLC now owns 12,740 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 3,504 shares during the period. Sei Investments Co. grew its stake in shares of KeyCorp by 12.9% in the 1st quarter. Sei Investments Co. now owns 1,183,502 shares of the financial services provider’s stock valued at $26,543,000 after purchasing an additional 135,193 shares during the period. Aviva PLC boosted its holdings in shares of KeyCorp by 177.0% in the 1st quarter. Aviva PLC now owns 525,009 shares of the financial services provider’s stock worth $11,750,000 after acquiring an additional 335,457 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of KeyCorp in the 1st quarter worth approximately $38,000. Finally, Allianz Asset Management GmbH boosted its holdings in shares of KeyCorp by 10.6% in the 1st quarter. Allianz Asset Management GmbH now owns 212,557 shares of the financial services provider’s stock worth $4,757,000 after acquiring an additional 20,384 shares in the last quarter. 82.11% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
KEY has been the topic of several recent analyst reports. Robert W. Baird raised KeyCorp from a “neutral” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Friday, March 10th. Barclays raised KeyCorp from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $21.00 to $24.00 in a report on Tuesday, January 3rd. Piper Sandler raised KeyCorp from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $18.50 to $16.50 in a report on Friday, March 10th. Odeon Capital Group downgraded KeyCorp from a “buy” rating to a “hold” rating in a report on Monday, March 13th. Finally, StockNews.com initiated coverage on KeyCorp in a report on Thursday. They issued a “sell” rating on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, KeyCorp has a consensus rating of “Hold” and a consensus target price of $19.87.
KeyCorp Stock Performance
KeyCorp (NYSE:KEY – Get Rating) last issued its earnings results 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 business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.93 billion. KeyCorp had a net margin of 22.46% and a return on equity of 15.27%. During the same quarter in the previous year, the firm posted $0.64 EPS. As a group, equities research analysts predict that KeyCorp will post 1.99 EPS for the current year.
KeyCorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 7.11%. The ex-dividend date was Monday, February 27th. KeyCorp’s dividend payout ratio is currently 42.71%.
Insider Activity at KeyCorp
In related news, insider Amy G. Brady sold 45,000 shares of the company’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $15.58, for a total value of $701,100.00. Following the completion of the sale, the insider now owns 119,121 shares in the company, valued at approximately $1,855,905.18. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Ruth Ann M. Gillis acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was acquired at an average price of $12.95 per share, for a total transaction of $25,900.00. Following the transaction, the director now directly owns 42,961 shares in the company, valued at $556,344.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Amy G. Brady sold 45,000 shares of the company’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $15.58, for a total transaction of $701,100.00. Following the completion of the sale, the insider now owns 119,121 shares of the company’s stock, valued at approximately $1,855,905.18. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.
KeyCorp is 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.
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