KeyCorp (NYSE:KEY) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC increased its position in shares of KeyCorp (NYSE:KEY) by 58.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 71,388 shares of the financial services provider’s stock after purchasing an additional 26,285 shares during the quarter. NewEdge Advisors LLC’s holdings in KeyCorp were worth $1,014,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of KEY. Ceredex Value Advisors LLC raised its stake in shares of KeyCorp by 112.4% during the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after buying an additional 3,517,755 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of KeyCorp in the first quarter valued at about $42,857,000. Balyasny Asset Management L.P. grew its position in shares of 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 valued at $39,005,000 after purchasing an additional 2,698,403 shares during the last quarter. National Bank of Canada FI grew its position in shares of KeyCorp by 1,051.3% in the first quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider’s stock valued at $38,752,000 after purchasing an additional 2,346,565 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of KeyCorp during the 2nd quarter worth approximately $33,273,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Stock Down 0.1 %

NYSE KEY opened at $16.77 on Tuesday. The stock has a market cap of $15.81 billion, a PE ratio of 21.23, a P/E/G ratio of 0.90 and a beta of 1.25. The business has a 50 day moving average price of $16.18 and a two-hundred day moving average price of $15.23. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $17.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (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 net margin of 7.35% and a return on equity of 8.64%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 EPS. As a group, sell-side analysts predict that KeyCorp will post 1.1 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a yield of 4.89%. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on KEY shares. DA Davidson raised their price target on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a research note on Tuesday, August 13th. UBS Group downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $16.00 to $15.00 in a report on Monday, July 8th. JPMorgan Chase & Co. reduced their price objective on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Finally, Jefferies Financial Group lifted their target price on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus price target of $16.91.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 46,864 shares in the company, valued at approximately $759,665.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is owned by company insiders.

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.