AE Wealth Management LLC Purchases 52,191 Shares of KeyCorp (NYSE:KEY)

AE Wealth Management LLC boosted its position in KeyCorp (NYSE:KEY) by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,197,392 shares of the financial services provider’s stock after acquiring an additional 52,191 shares during the period. AE Wealth Management LLC owned 0.13% of KeyCorp worth $17,015,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new position in shares of KeyCorp in the first quarter valued at approximately $25,000. Crewe Advisors LLC purchased a new stake in shares of KeyCorp during the first quarter valued at approximately $32,000. Quarry LP purchased a new stake in shares of KeyCorp during the fourth quarter valued at approximately $38,000. Fidelis Capital Partners LLC purchased a new stake in shares of KeyCorp during the first quarter valued at approximately $39,000. Finally, Centerpoint Advisors LLC increased its position in shares of KeyCorp by 127.7% during the first quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 2,107 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

KeyCorp stock opened at $17.12 on Friday. KeyCorp has a one year low of $9.50 and a one year high of $17.39. The business has a fifty day moving average price of $16.05 and a 200-day moving average price of $15.10. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $16.14 billion, a P/E ratio of 21.67, a PEG ratio of 0.90 and a beta of 1.25.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. As a group, equities research analysts forecast that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.79%. The ex-dividend date was Tuesday, August 27th. KeyCorp’s dividend payout ratio is 103.80%.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Evercore ISI decreased their price target on KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. JPMorgan Chase & Co. decreased 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, June 27th. DA Davidson increased their price target on KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a research report on Tuesday, September 10th. Finally, UBS Group downgraded KeyCorp from a “buy” rating to a “neutral” rating and decreased their price target for the company from $16.00 to $15.00 in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.65.

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.