KeyCorp (NYSE:KEY) Shares Acquired by Allworth Financial LP

Allworth Financial LP lifted its stake in shares of KeyCorp (NYSE:KEY) by 246.9% during the 1st quarter, Holdings Channel reports. The fund owned 2,168 shares of the financial services provider’s stock after buying an additional 1,543 shares during the quarter. Allworth Financial LP’s holdings in KeyCorp were worth $32,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of KEY. Vanguard Group Inc. increased its position in KeyCorp by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider’s stock worth $2,004,228,000 after purchasing an additional 7,754,576 shares during the last quarter. FMR LLC increased its holdings in shares of KeyCorp by 7.1% during the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider’s stock worth $761,556,000 after buying an additional 2,938,405 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of KeyCorp by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider’s stock valued at $622,229,000 after buying an additional 1,645,296 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in KeyCorp by 4.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 27,183,748 shares of the financial services provider’s stock valued at $465,929,000 after acquiring an additional 1,062,615 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in KeyCorp by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 23,349,979 shares of the financial services provider’s stock valued at $399,169,000 after acquiring an additional 1,647,332 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of KEY opened at $18.52 on Friday. The company has a market cap of $20.30 billion, a P/E ratio of -108.94, a PEG ratio of 0.68 and a beta of 1.11. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.75. The firm’s 50 day moving average price is $16.80 and its 200 day moving average price is $16.41.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. KeyCorp had a positive return on equity of 9.43% and a negative net margin of 0.12%. During the same quarter in the prior year, the company earned $0.20 earnings per share. On average, research analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.205 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.82 annualized dividend and a yield of 4.43%. KeyCorp’s payout ratio is -482.35%.

Insiders Place Their Bets

In related news, insider Mohit Ramani purchased 10,000 shares of KeyCorp stock in a transaction on Monday, April 21st. The shares were bought at an average price of $13.75 per share, with a total value of $137,500.00. Following the transaction, the insider directly owned 10,000 shares of the company’s stock, valued at approximately $137,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of KeyCorp stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the transaction, the director owned 37,177 shares of the company’s stock, valued at $617,138.20. The trade was a 11.85% decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KEY has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their target price on KeyCorp from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. TD Cowen initiated coverage on shares of KeyCorp in a report on Thursday, May 15th. They issued a “hold” rating and a $18.00 price objective on the stock. Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Wednesday, July 2nd. Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. Finally, Truist Financial reduced their price target on shares of KeyCorp from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and an average price target of $19.18.

KeyCorp 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.