Raymond James Financial Services Advisors Inc. raised its holdings in KeyCorp (NYSE:KEY – Get Rating) by 35.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 279,957 shares of the financial services provider’s stock after acquiring an additional 73,917 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in KeyCorp were worth $4,877,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Glassman Wealth Services raised its holdings in shares of KeyCorp by 35.4% in the 4th quarter. Glassman Wealth Services now owns 2,103 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 550 shares in the last quarter. Commerce Bank raised its holdings in shares of KeyCorp by 0.7% in the 3rd quarter. Commerce Bank now owns 88,765 shares of the financial services provider’s stock valued at $1,422,000 after acquiring an additional 580 shares in the last quarter. Texas Permanent School Fund raised its holdings in shares of KeyCorp by 0.4% in the 4th quarter. Texas Permanent School Fund now owns 132,557 shares of the financial services provider’s stock valued at $2,309,000 after acquiring an additional 592 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of KeyCorp by 1.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 60,300 shares of the financial services provider’s stock valued at $1,050,000 after acquiring an additional 600 shares in the last quarter. Finally, Pflug Koory LLC raised its holdings in shares of KeyCorp by 2.6% in the 4th quarter. Pflug Koory LLC now owns 24,050 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 608 shares in the last quarter. Hedge funds and other institutional investors own 82.11% of the company’s stock.
Insider Activity at KeyCorp
In related news, insider Victor B. Alexander acquired 8,500 shares of the stock in a transaction on Friday, April 21st. The stock was acquired at an average price of $11.83 per share, for a total transaction of $100,555.00. Following the completion of the purchase, the insider now owns 117,196 shares of the company’s stock, valued at $1,386,428.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Victor B. Alexander acquired 8,500 shares of the stock in a transaction on Friday, April 21st. The stock was acquired at an average price of $11.83 per share, for a total transaction of $100,555.00. Following the completion of the purchase, the insider now owns 117,196 shares of the company’s stock, valued at $1,386,428.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ruth Ann M. Gillis acquired 2,000 shares of the stock in a transaction on Tuesday, March 14th. The shares were bought at an average price of $12.95 per share, with a total value of $25,900.00. Following the purchase, the director now directly owns 42,961 shares of the company’s stock, valued at approximately $556,344.95. The disclosure for this purchase can be found here. Insiders have bought 87,700 shares of company stock worth $883,407 over the last ninety days. 0.61% of the stock is owned by corporate insiders.
KeyCorp Price Performance
KeyCorp (NYSE:KEY – Get Rating) last released its quarterly earnings results on Thursday, April 20th. The financial services provider reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44. KeyCorp had a return on equity of 15.63% and a net margin of 19.09%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the company posted $0.45 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. On average, equities research analysts anticipate that KeyCorp will post 1.69 earnings per share for the current year.
KeyCorp Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Tuesday, May 30th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $0.82 annualized dividend and a dividend yield of 8.16%. KeyCorp’s dividend payout ratio is presently 46.33%.
Wall Street Analysts Forecast Growth
KEY has been the topic of a number of research reports. Keefe, Bruyette & Woods decreased their price objective on KeyCorp from $20.00 to $19.00 and set a “market perform” rating on the stock in a report on Wednesday, March 8th. Wells Fargo & Company decreased their price objective on KeyCorp from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, April 21st. TheStreet cut KeyCorp from a “b-” rating to a “c+” rating in a report on Monday, May 1st. Piper Sandler raised 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. Finally, Citigroup decreased their price objective on KeyCorp from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, April 21st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, KeyCorp currently has a consensus rating of “Hold” and a consensus price target of $16.55.
KeyCorp Company Profile
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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