Voya Investment Management LLC Sells 69,759 Shares of KeyCorp $KEY

Voya Investment Management LLC decreased its position in KeyCorp (NYSE:KEY) by 25.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 199,269 shares of the financial services provider’s stock after selling 69,759 shares during the period. Voya Investment Management LLC’s holdings in KeyCorp were worth $3,724,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of KEY. Brighton Jones LLC acquired a new position in shares of KeyCorp in the fourth quarter valued at $476,000. Northwestern Mutual Wealth Management Co. increased its holdings in KeyCorp by 20.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 54,889 shares of the financial services provider’s stock valued at $878,000 after buying an additional 9,437 shares during the period. Trexquant Investment LP bought a new stake in KeyCorp in the 1st quarter valued at $5,823,000. Tortoise Investment Management LLC raised its stake in shares of KeyCorp by 54.1% in the 1st quarter. Tortoise Investment Management LLC now owns 3,442 shares of the financial services provider’s stock valued at $55,000 after buying an additional 1,208 shares in the last quarter. Finally, Parnassus Investments LLC bought a new position in shares of KeyCorp during the 1st quarter worth about $36,320,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

KEY has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research note on Monday. Stephens upped their price objective on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Piper Sandler raised their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. TD Cowen raised KeyCorp from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Tuesday, December 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of KeyCorp in a research note on Monday. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.79.

KeyCorp Trading Up 0.3%

KEY stock opened at $21.20 on Friday. The business has a fifty day moving average price of $18.71 and a 200 day moving average price of $18.31. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $21.25. The stock has a market capitalization of $23.16 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 0.63 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. The business’s revenue was up 172.7% on a year-over-year basis. Analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $0.82 dividend on an annualized basis and a yield of 3.9%. KeyCorp’s dividend payout ratio is currently 101.23%.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.