Inceptionr LLC Invests $443,000 in KeyCorp (NYSE:KEY)

Inceptionr LLC bought a new stake in shares of KeyCorp (NYSE:KEY) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 35,361 shares of the financial services provider’s stock, valued at approximately $443,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Cetera Advisor Networks LLC lifted its position in shares of KeyCorp by 37.9% in the first quarter. Cetera Advisor Networks LLC now owns 12,740 shares of the financial services provider’s stock worth $285,000 after buying an additional 3,504 shares in the last quarter. Sei Investments Co. increased its stake in KeyCorp by 12.9% in the 1st quarter. Sei Investments Co. now owns 1,183,502 shares of the financial services provider’s stock worth $26,543,000 after acquiring an additional 135,193 shares during the last quarter. Aviva PLC raised its holdings in shares of KeyCorp by 177.0% during 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 bought a new position in shares of KeyCorp during the 1st quarter valued at approximately $38,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of KeyCorp by 10.6% in the first quarter. Allianz Asset Management GmbH now owns 212,557 shares of the financial services provider’s stock valued at $4,757,000 after purchasing an additional 20,384 shares in the last quarter. 77.77% of the stock is currently owned by institutional investors.

Insider Activity

In other KeyCorp news, Director Devina A. Rankin acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average cost of $11.49 per share, with a total value of $114,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $114,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

KEY has been the subject of several research reports. Barclays lowered their price objective on shares of KeyCorp from $15.00 to $13.00 in a research report on Tuesday, June 27th. The Goldman Sachs Group boosted their price objective on KeyCorp from $11.50 to $13.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Odeon Capital Group upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Monday, May 22nd. Argus dropped their target price on KeyCorp from $17.00 to $14.00 and set a “buy” rating for the company in a report on Monday, July 24th. Finally, 888 restated a “maintains” rating on shares of KeyCorp in a report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, KeyCorp has a consensus rating of “Hold” and an average target price of $14.60.

KeyCorp Stock Performance

KeyCorp stock opened at $11.47 on Wednesday. KeyCorp has a fifty-two week low of $8.53 and a fifty-two week high of $20.30. The company has a market capitalization of $10.74 billion, a PE ratio of 7.65, a P/E/G ratio of 2.11 and a beta of 1.26. The company has a 50 day moving average price of $10.96 and a 200-day moving average price of $11.61. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.86 and a current ratio of 0.87.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). KeyCorp had a net margin of 14.93% and a return on equity of 13.78%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the firm earned $0.54 earnings per share. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. As a group, equities analysts forecast that KeyCorp will post 1.27 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 7.15%. The ex-dividend date of this dividend is Monday, August 28th. KeyCorp’s payout ratio is 54.67%.

About KeyCorp

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.