Rhumbline Advisers Increases Stock Position in KeyCorp (NYSE:KEY)

Rhumbline Advisers raised its holdings in KeyCorp (NYSE:KEYGet Rating) by 9.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,733,026 shares of the financial services provider’s stock after purchasing an additional 147,185 shares during the period. Rhumbline Advisers owned 0.19% of KeyCorp worth $29,860,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fieldpoint Private Securities LLC lifted its holdings in shares of KeyCorp by 677.7% in the second quarter. Fieldpoint Private Securities LLC now owns 1,431 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,247 shares in the last quarter. Spectrum Management Group LLC acquired a new position in shares of KeyCorp in the first quarter valued at approximately $35,000. TCTC Holdings LLC acquired a new position in shares of KeyCorp in the first quarter valued at approximately $35,000. Evoke Wealth LLC raised its position in shares of KeyCorp by 131.8% in the second quarter. Evoke Wealth LLC now owns 1,602 shares of the financial services provider’s stock valued at $28,000 after buying an additional 911 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of KeyCorp by 93.0% in the second quarter. Brown Brothers Harriman & Co. now owns 1,631 shares of the financial services provider’s stock valued at $28,000 after buying an additional 786 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Morgan Stanley cut their price objective on shares of KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 5th. Wedbush reissued a “neutral” rating and issued a $18.00 price objective on shares of KeyCorp in a research report on Wednesday, September 28th. StockNews.com assumed coverage on shares of KeyCorp in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Royal Bank of Canada cut their price objective on shares of KeyCorp from $29.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, October 21st. Finally, Piper Sandler cut their price objective on shares of KeyCorp to $16.50 in a research report on Thursday, September 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.64.

KeyCorp Price Performance

KeyCorp stock opened at $18.92 on Thursday. KeyCorp has a 52-week low of $15.26 and a 52-week high of $27.17. The firm has a fifty day moving average of $17.41 and a 200-day moving average of $17.99. The firm has a market capitalization of $17.65 billion, a P/E ratio of 8.68, a PEG ratio of 0.49 and a beta of 1.29. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.69.

KeyCorp (NYSE:KEYGet Rating) last released its quarterly earnings data on Thursday, October 20th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). KeyCorp had a return on equity of 15.81% and a net margin of 26.66%. During the same quarter last year, the business posted $0.65 earnings per share. As a group, analysts predict that KeyCorp will post 2.13 EPS for the current year.

KeyCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 29th will be given a $0.205 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.82 annualized dividend and a dividend yield of 4.33%. This is a positive change from KeyCorp’s previous quarterly dividend of $0.20. KeyCorp’s dividend payout ratio is presently 35.78%.

Insider Transactions at KeyCorp

In other news, Director Carlton L. Highsmith sold 5,200 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $17.59, for a total value of $91,468.00. Following the completion of the sale, the director now owns 64,139 shares of the company’s stock, valued at $1,128,205.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

KeyCorp Company Profile

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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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

See Also

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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