CAPROCK Group Inc. Reduces Holdings in KeyCorp (NYSE:KEY)

Posted by on Apr 3rd, 2023

CAPROCK Group Inc. trimmed its position in shares of KeyCorp (NYSE:KEY – Get Rating) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,409 shares of the financial services provider’s stock after selling 1,545 shares during the quarter. CAPROCK Group Inc.’s holdings in KeyCorp were worth $303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Connable Office Inc. boosted its stake in KeyCorp by 22.6% during the fourth quarter. Connable Office Inc. now owns 16,036 shares of the financial services provider’s stock worth $279,000 after buying an additional 2,956 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of KeyCorp by 25.0% during the fourth quarter. DAVENPORT & Co LLC now owns 100,577 shares of the financial services provider’s stock valued at $1,752,000 after purchasing an additional 20,088 shares during the period. Vestmark Advisory Solutions Inc. boosted its stake in shares of KeyCorp by 8.5% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 59,911 shares of the financial services provider’s stock valued at $1,044,000 after purchasing an additional 4,685 shares during the period. Keudell Morrison Wealth Management boosted its stake in shares of KeyCorp by 19.7% during the fourth quarter. Keudell Morrison Wealth Management now owns 14,457 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 2,383 shares during the period. Finally, Intrua Financial LLC boosted its stake in shares of KeyCorp by 44.9% during the fourth quarter. Intrua Financial LLC now owns 90,400 shares of the financial services provider’s stock valued at $1,487,000 after purchasing an additional 28,003 shares during the period. 82.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KEY has been the subject of a number of recent analyst reports. Barclays raised shares of KeyCorp from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $21.00 to $24.00 in a research note on Tuesday, January 3rd. Royal Bank of Canada lowered their target price on shares of KeyCorp from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, March 24th. Piper Sandler upgraded KeyCorp from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $18.50 to $16.50 in a report on Friday, March 10th. Odeon Capital Group downgraded KeyCorp from a “buy” rating to a “hold” rating in a report on Monday, March 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on KeyCorp from $23.00 to $20.00 in a report on Friday, January 6th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, KeyCorp currently has an average rating of “Hold” and a consensus target price of $19.18.

Insider Activity

In other news, insider Amy G. Brady sold 45,000 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $15.58, for a total transaction of $701,100.00. Following the transaction, the insider now owns 119,121 shares in the company, valued at $1,855,905.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Amy G. Brady sold 45,000 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $15.58, for a total transaction of $701,100.00. Following the transaction, the insider now owns 119,121 shares in the company, valued at $1,855,905.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 5,352 shares of the company’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $19.95, for a total transaction of $106,772.40. Following the transaction, the insider now owns 194,280 shares in the company, valued at approximately $3,875,886. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $12.52 on Monday. The company has a market capitalization of $11.58 billion, a PE ratio of 6.52, a P/E/G ratio of 1.09 and a beta of 1.31. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.84 and a current ratio of 0.84. The company has a 50-day simple moving average of $16.68 and a two-hundred day simple moving average of $17.24. KeyCorp has a one year low of $9.60 and a one year high of $23.95.

KeyCorp (NYSE:KEY – Get Rating) last announced its earnings results on Thursday, January 19th. The financial services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.17). The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.93 billion. KeyCorp had a return on equity of 15.27% and a net margin of 22.46%. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Research analysts expect that KeyCorp will post 1.91 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were issued a dividend of $0.205 per share. The ex-dividend date was Monday, February 27th. This represents a $0.82 annualized dividend and a dividend yield of 6.55%. KeyCorp’s dividend payout ratio (DPR) is currently 42.71%.

KeyCorp Company Profile

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KeyCorp is a bank holding company, which engages in the provision of financial services. It provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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