KeyCorp’s (KEY) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of KeyCorp (NYSE:KEY) in a research note issued to investors on Wednesday,Benzinga reports. Royal Bank of Canada currently has a $18.00 price objective on the financial services provider’s stock.

Other research analysts have also recently issued reports about the company. Wedbush increased their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a report on Thursday, November 7th. Evercore ISI increased their price target on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $19.58.

KeyCorp Price Performance

KeyCorp stock opened at $17.32 on Wednesday. The firm has a 50-day moving average of $18.13 and a 200-day moving average of $17.06. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. KeyCorp has a one year low of $13.10 and a one year high of $20.04.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio is currently -273.32%.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of KeyCorp

Large investors have recently modified their holdings of the stock. Pacer Advisors Inc. grew its stake in KeyCorp by 4.6% during the second quarter. Pacer Advisors Inc. now owns 67,218 shares of the financial services provider’s stock worth $955,000 after buying an additional 2,985 shares in the last quarter. Ensign Peak Advisors Inc boosted its position in shares of KeyCorp by 4.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 366,336 shares of the financial services provider’s stock worth $5,206,000 after acquiring an additional 16,650 shares in the last quarter. ProShare Advisors LLC increased its stake in KeyCorp by 5.5% in the second quarter. ProShare Advisors LLC now owns 191,470 shares of the financial services provider’s stock valued at $2,721,000 after acquiring an additional 10,052 shares during the last quarter. Public Sector Pension Investment Board raised its position in KeyCorp by 8.5% during the second quarter. Public Sector Pension Investment Board now owns 159,883 shares of the financial services provider’s stock valued at $2,272,000 after purchasing an additional 12,575 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of KeyCorp by 4,518.6% in the 2nd quarter. Marshall Wace LLP now owns 845,211 shares of the financial services provider’s stock valued at $12,010,000 after purchasing an additional 826,911 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Company Profile

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.