Kingswood Wealth Advisors LLC Reduces Stock Holdings in KeyCorp (NYSE:KEY)

Kingswood Wealth Advisors LLC reduced its stake in shares of KeyCorp (NYSE:KEY) by 21.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,626 shares of the financial services provider’s stock after selling 6,021 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in KeyCorp were worth $358,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KEY. Norges Bank bought a new position in KeyCorp in the fourth quarter worth about $128,203,000. Ceredex Value Advisors LLC bought a new stake in shares of KeyCorp during the fourth quarter valued at approximately $64,421,000. AQR Capital Management LLC grew its stake in KeyCorp by 844.4% in the third quarter. AQR Capital Management LLC now owns 3,160,631 shares of the financial services provider’s stock worth $34,008,000 after purchasing an additional 2,825,977 shares during the period. Balyasny Asset Management L.P. raised its holdings in KeyCorp by 26,297.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the financial services provider’s stock worth $39,005,000 after purchasing an additional 2,698,403 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its position in KeyCorp by 11,813.2% during the fourth quarter. Impax Asset Management Group plc now owns 2,289,724 shares of the financial services provider’s stock valued at $32,972,000 after buying an additional 2,270,504 shares during the period. 79.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Argus increased their price target on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Wells Fargo & Company boosted their price target on KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Jefferies Financial Group boosted their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 8th. JPMorgan Chase & Co. lowered their price target on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research report on Thursday. Finally, Evercore ISI cut their price objective on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.38.

KeyCorp Stock Up 0.7 %

KeyCorp stock opened at $13.62 on Friday. KeyCorp has a one year low of $9.10 and a one year high of $15.86. The stock has a fifty day moving average of $14.40 and a 200 day moving average of $14.45. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $12.84 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 0.68 and a beta of 1.28.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. KeyCorp’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 EPS. As a group, sell-side analysts predict that KeyCorp will post 1.13 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th were paid a $0.205 dividend. The ex-dividend date was Friday, May 24th. This represents a $0.82 annualized dividend and a dividend yield of 6.02%. KeyCorp’s dividend payout ratio (DPR) is 103.80%.

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.