Nisa Investment Advisors LLC Sells 2,881 Shares of KeyCorp (NYSE:KEY)

Posted by Defense World Staff on Jul 28th, 2023

Nisa Investment Advisors LLC reduced its position in KeyCorp (NYSE:KEY – Free Report) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 251,215 shares of the financial services provider’s stock after selling 2,881 shares during the quarter. Nisa Investment Advisors LLC’s holdings in KeyCorp were worth $3,145,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KEY. Cetera Advisor Networks LLC increased its position in KeyCorp by 37.9% in the first quarter. Cetera Advisor Networks LLC now owns 12,740 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 3,504 shares during the period. Sei Investments Co. increased its position in KeyCorp by 12.9% in the first quarter. Sei Investments Co. now owns 1,183,502 shares of the financial services provider’s stock worth $26,543,000 after purchasing an additional 135,193 shares during the period. Aviva PLC increased its position in KeyCorp by 177.0% in the first quarter. Aviva PLC now owns 525,009 shares of the financial services provider’s stock worth $11,750,000 after purchasing an additional 335,457 shares during the period. Canada Pension Plan Investment Board bought a new position in KeyCorp during the first quarter worth about $38,000. Finally, Allianz Asset Management GmbH boosted its holdings in KeyCorp by 10.6% during the first quarter. Allianz Asset Management GmbH now owns 212,557 shares of the financial services provider’s stock worth $4,757,000 after buying an additional 20,384 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

KEY has been the topic of a number of recent analyst reports. Citigroup raised their target price on KeyCorp from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday. 888 restated a “maintains” rating on shares of KeyCorp in a report on Tuesday, June 13th. Odeon Capital Group upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Monday, May 22nd. JPMorgan Chase & Co. cut their price objective on KeyCorp from $11.00 to $10.50 in a report on Thursday, June 29th. Finally, DA Davidson cut their price objective on KeyCorp from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, April 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.40.

KeyCorp Stock Down 1.4 %

NYSE:KEY opened at $12.24 on Friday. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 8.16, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. KeyCorp has a twelve month low of $8.53 and a twelve month high of $20.30. The stock’s 50 day moving average price is $10.22 and its two-hundred day moving average price is $13.15. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.95.

KeyCorp (NYSE:KEY – Get Free Report) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.05). The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.62 billion. KeyCorp had a return on equity of 13.78% and a net margin of 14.93%. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period last year, the firm earned $0.54 EPS. Equities research analysts expect that KeyCorp will post 1.32 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 29th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date is Monday, August 28th. KeyCorp’s payout ratio is presently 54.67%.

Insider Buying and Selling

In related news, insider Amy G. Brady sold 12,388 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $10.11, for a total value of $125,242.68. Following the completion of the sale, the insider now directly owns 106,733 shares in the company, valued at approximately $1,079,070.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Amy G. Brady sold 12,388 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $10.11, for a total value of $125,242.68. Following the completion of the sale, the insider now directly owns 106,733 shares in the company, valued at approximately $1,079,070.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew J. Paine III purchased 75,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average price of $9.78 per share, with a total value of $733,500.00. Following the completion of the purchase, the insider now directly owns 335,414 shares in the company, valued at $3,280,348.92. The disclosure for this purchase can be found here. 0.61% of the stock is owned by insiders.

KeyCorp Profile

(Free Report)

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.