Summit Trail Advisors LLC Acquires 10,797 Shares of KeyCorp (NYSE:KEY)

Summit Trail Advisors LLC raised its holdings in KeyCorp (NYSE:KEY) by 98.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,754 shares of the financial services provider’s stock after buying an additional 10,797 shares during the quarter. Summit Trail Advisors LLC’s holdings in KeyCorp were worth $309,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pathway Financial Advisers LLC bought a new stake in shares of KeyCorp during the 1st quarter valued at about $25,000. Crewe Advisors LLC purchased a new position in KeyCorp during the first quarter valued at $32,000. Quarry LP bought a new stake in shares of KeyCorp during the 4th quarter valued at $38,000. Fidelis Capital Partners LLC purchased a new stake in shares of KeyCorp in the 1st quarter worth about $39,000. Finally, Centerpoint Advisors LLC increased its stake in shares of KeyCorp by 127.7% in the 1st quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 2,107 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $16.81 on Tuesday. KeyCorp has a 12-month low of $9.50 and a 12-month high of $17.39. The firm has a market capitalization of $15.85 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The firm has a 50 day moving average of $16.08 and a 200 day moving average of $15.11.

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

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend was Tuesday, August 27th. KeyCorp’s dividend payout ratio is presently 103.80%.

Insider Activity at KeyCorp

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

Wall Street Analysts Forecast Growth

KEY has been the topic of a number of recent research reports. UBS Group cut shares of KeyCorp from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $16.00 to $15.00 in a report on Monday, July 8th. Jefferies Financial Group raised their price objective on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Morgan Stanley boosted their target price on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a report on Tuesday, August 13th. Finally, Citigroup upped their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus 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.