Shell Asset Management Co. Reduces Position in KeyCorp (NYSE:KEY)

Shell Asset Management Co. decreased its holdings in KeyCorp (NYSE:KEYFree Report) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,436 shares of the financial services provider’s stock after selling 1,397 shares during the quarter. Shell Asset Management Co.’s holdings in KeyCorp were worth $715,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in shares of KeyCorp by 16.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 23,126,760 shares of the financial services provider’s stock worth $248,844,000 after purchasing an additional 3,216,584 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of KeyCorp by 4.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 48,519 shares of the financial services provider’s stock worth $522,000 after purchasing an additional 2,209 shares in the last quarter. Soltis Investment Advisors LLC boosted its position in shares of KeyCorp by 13.9% in the 3rd quarter. Soltis Investment Advisors LLC now owns 12,309 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 1,500 shares in the last quarter. Connable Office Inc. lifted its position in KeyCorp by 3.5% during the 3rd quarter. Connable Office Inc. now owns 45,924 shares of the financial services provider’s stock worth $494,000 after acquiring an additional 1,572 shares during the period. Finally, Penobscot Investment Management Company Inc. acquired a new stake in KeyCorp during the 3rd quarter worth about $401,000. Institutional investors and hedge funds own 77.77% of the company’s stock.

Insiders Place Their Bets

In other KeyCorp news, CAO Douglas M. Schosser sold 14,383 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $13.37, for a total transaction of $192,300.71. Following the completion of the sale, the chief accounting officer now directly owns 19,795 shares in the company, valued at approximately $264,659.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.61% of the stock is owned by company insiders.

KeyCorp Price Performance

Shares of KeyCorp stock opened at $13.89 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. KeyCorp has a twelve month low of $8.53 and a twelve month high of $19.65. The business has a 50-day moving average price of $14.14 and a 200 day moving average price of $12.20. The firm has a market cap of $13.00 billion, a PE ratio of 15.61 and a beta of 1.29.

KeyCorp (NYSE:KEYGet Free Report) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business earned $0.38 EPS. Sell-side analysts predict that KeyCorp will post 1.22 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $0.82 annualized dividend and a yield of 5.90%. KeyCorp’s dividend payout ratio (DPR) is currently 92.13%.

Analysts Set New Price Targets

A number of brokerages have commented on KEY. Piper Sandler lifted their price target on KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Wedbush lowered their price target on KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. The Goldman Sachs Group lifted their price target on KeyCorp from $13.50 to $15.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. DA Davidson lowered their price target on KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, January 19th. Finally, Stephens raised KeyCorp from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Check Out Our Latest Report on KEY

KeyCorp Company Profile

(Free Report)

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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