DnB Asset Management AS Increases Stock Position in KeyCorp (NYSE:KEY)

DnB Asset Management AS grew its stake in shares of KeyCorp (NYSE:KEYGet Rating) by 10.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 232,510 shares of the financial services provider’s stock after buying an additional 22,550 shares during the period. DnB Asset Management AS’s holdings in KeyCorp were worth $4,006,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in KEY. Glassman Wealth Services lifted its holdings in shares of KeyCorp by 31.3% during the 4th quarter. Glassman Wealth Services now owns 1,778 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 424 shares in the last quarter. Resources Investment Advisors LLC. lifted its holdings in shares of KeyCorp by 0.7% during the 4th quarter. Resources Investment Advisors LLC. now owns 62,640 shares of the financial services provider’s stock valued at $1,449,000 after acquiring an additional 449 shares in the last quarter. Fagan Associates Inc. lifted its holdings in shares of KeyCorp by 3.2% during the 1st quarter. Fagan Associates Inc. now owns 16,081 shares of the financial services provider’s stock valued at $360,000 after acquiring an additional 506 shares in the last quarter. Sigma Planning Corp lifted its holdings in shares of KeyCorp by 4.4% during the 1st quarter. Sigma Planning Corp now owns 12,872 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 539 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in KeyCorp by 6.6% in the 1st quarter. Allworth Financial LP now owns 9,122 shares of the financial services provider’s stock worth $204,000 after buying an additional 563 shares in the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 5,200 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were 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 in the company, valued at approximately $1,128,205.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Piper Sandler set a $19.00 target price on shares of KeyCorp in a research report on Monday, June 20th. Citigroup dropped their target price on shares of KeyCorp from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, July 12th. Wolfe Research dropped their target price on shares of KeyCorp from $23.00 to $17.00 and set an “underperform” rating for the company in a research report on Thursday, May 26th. Wells Fargo & Company lowered their price objective on shares of KeyCorp from $27.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, July 1st. Finally, The Goldman Sachs Group lowered their price objective on shares of KeyCorp from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, May 31st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.37.

KeyCorp Stock Up 0.7 %

KEY stock opened at $17.83 on Tuesday. KeyCorp has a 12 month low of $16.41 and a 12 month high of $27.17. The firm has a market cap of $16.63 billion, a PE ratio of 7.82, a P/E/G ratio of 0.43 and a beta of 1.30. The firm has a 50 day simple moving average of $18.20 and a 200 day simple moving average of $19.46. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.81 and a quick ratio of 0.81.

KeyCorp (NYSE:KEYGet Rating) last issued its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.76 billion. KeyCorp had a net margin of 28.53% and a return on equity of 15.01%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. Equities research analysts forecast that KeyCorp will post 2.24 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 30th were paid a $0.195 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.78 annualized dividend and a yield of 4.37%. KeyCorp’s dividend payout ratio is presently 34.21%.

KeyCorp Company Profile

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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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