Putnam Investments LLC Has $77.79 Million Holdings in KeyCorp (NYSE:KEY)

Posted by Defense World Staff on Jun 13th, 2023

Putnam Investments LLC raised its holdings in shares of KeyCorp (NYSE:KEY – Get Rating) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,465,313 shares of the financial services provider’s stock after purchasing an additional 136,542 shares during the period. Putnam Investments LLC owned 0.48% of KeyCorp worth $77,786,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in KEY. Marshall Wace LLP lifted its position in KeyCorp by 2,228.2% during the 3rd quarter. Marshall Wace LLP now owns 2,593,491 shares of the financial services provider’s stock valued at $41,548,000 after purchasing an additional 2,482,098 shares during the period. State Street Corp lifted its position in KeyCorp by 4.9% during the 3rd quarter. State Street Corp now owns 51,201,153 shares of the financial services provider’s stock valued at $820,242,000 after purchasing an additional 2,399,018 shares during the period. Prudential Financial Inc. lifted its position in KeyCorp by 211.6% during the 1st quarter. Prudential Financial Inc. now owns 3,274,208 shares of the financial services provider’s stock valued at $73,277,000 after purchasing an additional 2,223,588 shares during the period. Two Sigma Investments LP acquired a new position in KeyCorp during the 4th quarter valued at about $37,846,000. Finally, Epoch Investment Partners Inc. lifted its position in KeyCorp by 29.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 8,903,911 shares of the financial services provider’s stock valued at $155,106,000 after purchasing an additional 2,019,965 shares during the period. 82.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Amy G. Brady sold 12,388 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $10.11, for a total transaction of $125,242.68. Following the completion of the sale, the insider now owns 106,733 shares of the company’s stock, valued at approximately $1,079,070.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other KeyCorp news, insider Amy G. Brady sold 12,388 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $10.11, for a total transaction of $125,242.68. Following the completion of the sale, the insider now owns 106,733 shares of the company’s stock, valued at approximately $1,079,070.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victor B. Alexander purchased 8,500 shares of the business’s stock in a transaction on Friday, April 21st. The shares were acquired at an average cost of $11.83 per share, with a total value of $100,555.00. Following the acquisition, the insider now directly owns 117,196 shares in the company, valued at $1,386,428.68. The disclosure for this purchase can be found here. Insiders acquired 85,700 shares of company stock valued at $857,507 in the last quarter. 0.54% of the stock is currently owned by insiders.

KeyCorp Trading Down 4.3 %

NYSE KEY opened at $10.22 on Tuesday. The company has a market cap of $9.56 billion, a PE ratio of 5.77, a PEG ratio of 1.47 and a beta of 1.25. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.92. KeyCorp has a 12 month low of $8.53 and a 12 month high of $20.30. The stock has a 50 day moving average of $10.62 and a 200-day moving average of $14.79.

KeyCorp (NYSE:KEY – Get Rating) last released its quarterly earnings data on Thursday, April 20th. The financial services provider reported $0.44 EPS for the quarter, meeting the consensus estimate of $0.44. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.80 billion. KeyCorp had a return on equity of 15.63% and a net margin of 19.09%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. On average, equities research analysts anticipate that KeyCorp will post 1.69 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Tuesday, May 30th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 8.02%. The ex-dividend date is Friday, May 26th. KeyCorp’s dividend payout ratio is 46.33%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wedbush reiterated a “hold neutral” rating and issued a $13.00 price target on shares of KeyCorp in a research report on Friday, April 21st. TheStreet downgraded shares of KeyCorp from a “b-” rating to a “c+” rating in a research report on Monday, May 1st. JPMorgan Chase & Co. cut their price target on shares of KeyCorp from $16.00 to $12.00 in a research report on Thursday, April 6th. Citigroup cut their price target on shares of KeyCorp from $16.00 to $15.00 in a research report on Wednesday, June 7th. Finally, Piper Sandler upgraded shares of KeyCorp from an “underweight” rating to a “neutral” rating and cut their price target for the company from $18.50 to $16.50 in a research report on Friday, March 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, KeyCorp has an average rating of “Hold” and a consensus price target of $15.83.

KeyCorp 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.