Blair William & Co. IL Grows Position in KeyCorp (NYSE:KEY)

Blair William & Co. IL raised its holdings in KeyCorp (NYSE:KEY) by 31.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 27,146 shares of the financial services provider’s stock after acquiring an additional 6,495 shares during the quarter. Blair William & Co. IL’s holdings in KeyCorp were worth $434,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of KEY. Brighton Jones LLC purchased a new stake in shares of KeyCorp in the 4th quarter valued at about $476,000. Federated Hermes Inc. raised its holdings in shares of KeyCorp by 267.5% in the 4th quarter. Federated Hermes Inc. now owns 11,052 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 8,045 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of KeyCorp in the 4th quarter valued at about $42,827,000. Treasurer of the State of North Carolina raised its holdings in shares of KeyCorp by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 406,973 shares of the financial services provider’s stock valued at $6,976,000 after acquiring an additional 2,550 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of KeyCorp by 1.8% in the 4th quarter. Sterling Capital Management LLC now owns 54,855 shares of the financial services provider’s stock valued at $940,000 after acquiring an additional 969 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In other KeyCorp news, Director Trina M. Evans sold 17,000 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the completion of the sale, the director owned 82,719 shares in the company, valued at approximately $1,544,363.73. This trade represents a 17.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher M. Gorman sold 112,149 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total value of $2,115,130.14. Following the completion of the sale, the chief executive officer owned 619,895 shares of the company’s stock, valued at approximately $11,691,219.70. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,149 shares of company stock worth $2,738,230. 0.52% of the stock is currently owned by company insiders.

KeyCorp Price Performance

KEY opened at $17.37 on Tuesday. The stock’s 50 day simple moving average is $17.43 and its 200 day simple moving average is $16.46. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The firm has a market cap of $19.04 billion, a price-to-earnings ratio of -248.11, a PEG ratio of 0.62 and a beta of 1.13.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the company earned $0.25 EPS. KeyCorp’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.205 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.82 annualized dividend and a yield of 4.7%. KeyCorp’s dividend payout ratio (DPR) is -1,171.43%.

Analysts Set New Price Targets

Several research firms have weighed in on KEY. Truist Financial raised their price target on KeyCorp from $17.00 to $19.00 and gave the company a “hold” rating in a report on Monday, July 28th. Evercore ISI set a $17.00 price target on KeyCorp in a report on Monday, April 28th. Wells Fargo & Company increased their price objective on KeyCorp from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Bank of America increased their price objective on KeyCorp from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, June 16th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of KeyCorp in a research report on Thursday, April 17th. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, KeyCorp presently has an average rating of “Hold” and an average price target of $19.39.

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.