Mackenzie Financial Corp Buys 275,459 Shares of KeyCorp (NYSE:KEY)

Mackenzie Financial Corp increased its stake in shares of KeyCorp (NYSE:KEY) by 24.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,412,114 shares of the financial services provider’s stock after buying an additional 275,459 shares during the period. Mackenzie Financial Corp owned about 0.15% of KeyCorp worth $20,334,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of KeyCorp by 2.1% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 26,413 shares of the financial services provider’s stock valued at $460,000 after buying an additional 540 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in KeyCorp by 2.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 24,363 shares of the financial services provider’s stock valued at $424,000 after purchasing an additional 584 shares during the last quarter. BOKF NA boosted its position in KeyCorp by 3.4% during the fourth quarter. BOKF NA now owns 20,170 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 665 shares during the period. Cetera Investment Advisers increased its stake in shares of KeyCorp by 4.1% in the first quarter. Cetera Investment Advisers now owns 18,427 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 720 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its stake in shares of KeyCorp by 6.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 732 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

NYSE KEY opened at $14.39 on Friday. KeyCorp has a 52-week low of $8.53 and a 52-week high of $15.86. The company has a fifty day moving average of $14.67 and a 200-day moving average of $13.35. The company has a market capitalization of $13.35 billion, a P/E ratio of 16.17 and a beta of 1.29. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.86 and a current ratio of 0.86.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the business earned $0.44 EPS. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. As a group, equities research analysts predict that KeyCorp will post 1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KEY has been the topic of a number of recent research reports. Morgan Stanley upped their price target on shares of KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Wells Fargo & Company lifted their price target on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Barclays decreased their price objective on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, January 19th. DA Davidson cut their target price on KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, January 19th. Finally, Piper Sandler upped their price target on KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.53.

Insider Activity at KeyCorp

In other KeyCorp news, CAO Douglas M. Schosser sold 3,326 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the sale, the chief accounting officer now owns 19,795 shares of the company’s stock, valued at $277,130. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Douglas M. Schosser sold 3,326 shares of KeyCorp stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the transaction, the chief accounting officer now owns 19,795 shares in the company, valued at approximately $277,130. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Trina M. Evans sold 12,335 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,161,481.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,442 shares of company stock valued at $303,914. Corporate insiders own 0.61% of the company’s stock.

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; 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.