Essex Savings Bank Invests $157,000 in KeyCorp (NYSE:KEY)

Essex Savings Bank bought a new position in KeyCorp (NYSE:KEYFree Report) in the 4th quarter, Holdings Channel.com reports. The fund bought 10,875 shares of the financial services provider’s stock, valued at approximately $157,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Barclays PLC grew its position in shares of KeyCorp by 78.1% during the 2nd quarter. Barclays PLC now owns 2,380,504 shares of the financial services provider’s stock valued at $21,995,000 after buying an additional 1,044,148 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of KeyCorp by 16.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 23,126,760 shares of the financial services provider’s stock valued at $248,844,000 after buying an additional 3,216,584 shares during the last quarter. Raymond James & Associates grew its position in shares of KeyCorp by 44.1% during the 4th quarter. Raymond James & Associates now owns 1,610,148 shares of the financial services provider’s stock valued at $23,186,000 after buying an additional 492,584 shares during the last quarter. Rheos Capital Works Inc. bought a new stake in shares of KeyCorp during the 3rd quarter valued at about $5,380,000. Finally, American Century Companies Inc. grew its position in shares of KeyCorp by 14.0% during the 3rd quarter. American Century Companies Inc. now owns 640,787 shares of the financial services provider’s stock valued at $6,895,000 after buying an additional 78,773 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

KEY has been the subject of a number of analyst reports. Piper Sandler boosted their target price on shares of KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. The Goldman Sachs Group boosted their target price on shares of KeyCorp from $13.50 to $15.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Raymond James initiated coverage on shares of KeyCorp in a research note on Monday, January 8th. They set a “market perform” rating for the company. Evercore ISI boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, DA Davidson reduced their target price on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Read Our Latest Report on KeyCorp

KeyCorp Stock Down 1.5 %

KEY stock opened at $15.26 on Wednesday. KeyCorp has a 12 month low of $8.53 and a 12 month high of $15.86. The firm has a market cap of $14.15 billion, a PE ratio of 17.15 and a beta of 1.29. The firm has a 50 day simple moving average of $14.55 and a 200 day simple moving average of $13.02. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.86 and a quick ratio of 0.86.

KeyCorp (NYSE:KEYGet Free Report) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business earned $0.38 earnings per share. Equities research analysts forecast that KeyCorp will post 1.18 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend was Monday, February 26th. KeyCorp’s dividend payout ratio is presently 92.13%.

Insider Activity

In other news, Director Trina M. Evans sold 12,335 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.23, for a total transaction of $175,527.05. Following the sale, the director now owns 81,622 shares in the company, valued at $1,161,481.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Trina M. Evans sold 12,335 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.23, for a total transaction of $175,527.05. Following the sale, the director now owns 81,622 shares in the company, valued at $1,161,481.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the sale, the insider now owns 98,120 shares in the company, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock worth $303,914 over the last 90 days. 0.67% of the stock is owned by company insiders.

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; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, 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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