MQS Management LLC Invests $145,000 in KeyCorp (NYSE:KEY)

MQS Management LLC acquired a new position in KeyCorp (NYSE:KEY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,226 shares of the financial services provider’s stock, valued at approximately $145,000.

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

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the transaction, the director now directly owns 46,864 shares of the company’s stock, valued at $759,665.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KEY shares. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price objective on shares of KeyCorp in a research note on Tuesday, August 13th. Wedbush lifted their price target on KeyCorp from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Citigroup increased their price objective on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Morgan Stanley upped their target price on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Finally, Jefferies Financial Group increased their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.65.

KeyCorp Stock Performance

Shares of KEY stock opened at $17.12 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a 12-month low of $9.50 and a 12-month high of $17.39. The business’s 50 day moving average is $16.05 and its two-hundred day moving average is $15.10. The company has a market capitalization of $16.14 billion, a P/E ratio of 21.67, a P/E/G ratio of 0.90 and a beta of 1.25.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.53 billion for 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 business’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. Analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

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