Yousif Capital Management LLC Has $1.76 Million Stake in KeyCorp (NYSE:KEY)

Posted by Defense World Staff on Aug 1st, 2023

Yousif Capital Management LLC trimmed its position in KeyCorp (NYSE:KEY – Free Report) by 5.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 140,407 shares of the financial services provider’s stock after selling 7,597 shares during the period. Yousif Capital Management LLC’s holdings in KeyCorp were worth $1,758,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KEY. Pacer Advisors Inc. raised its position in shares of KeyCorp by 171.1% during the 1st quarter. Pacer Advisors Inc. now owns 69,743 shares of the financial services provider’s stock valued at $873,000 after buying an additional 44,014 shares in the last quarter. Abundance Wealth Counselors lifted its position in KeyCorp by 10.3% during the 1st quarter. Abundance Wealth Counselors now owns 82,942 shares of the financial services provider’s stock valued at $1,038,000 after acquiring an additional 7,747 shares during the period. Daiwa Securities Group Inc. raised its holdings in KeyCorp by 9.0% in the first quarter. Daiwa Securities Group Inc. now owns 71,288 shares of the financial services provider’s stock worth $893,000 after buying an additional 5,867 shares during the last quarter. SageView Advisory Group LLC purchased a new position in KeyCorp in the first quarter worth about $744,000. Finally, Ieq Capital LLC grew its stake in shares of KeyCorp by 26.4% in the first quarter. Ieq Capital LLC now owns 27,833 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 5,808 shares during the period. 79.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on KEY shares. JPMorgan Chase & Co. cut their target price on shares of KeyCorp from $11.00 to $10.50 in a research report on Thursday, June 29th. The Goldman Sachs Group upped their price target on shares of KeyCorp from $11.50 to $13.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Argus decreased their price target on shares of KeyCorp from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, July 24th. Wells Fargo & Company reduced their target price on shares of KeyCorp from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, April 21st. Finally, StockNews.com began coverage on shares of KeyCorp in a report on Thursday, May 18th. They issued a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.40.

KeyCorp Trading Down 2.1 %

Shares of NYSE KEY opened at $12.31 on Tuesday. KeyCorp has a 12 month low of $8.53 and a 12 month high of $20.30. The company has a market cap of $11.51 billion, a price-to-earnings ratio of 8.21, a P/E/G ratio of 2.25 and a beta of 1.23. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.95. The business has a fifty day simple moving average of $10.32 and a 200-day simple moving average of $13.00.

KeyCorp (NYSE:KEY – Get Free Report) last issued its 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). KeyCorp had a return on equity of 13.78% and a net margin of 14.93%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. Sell-side analysts predict that KeyCorp will post 1.3 EPS for the current 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 paid a dividend of $0.205 per share. The ex-dividend date is Monday, August 28th. This represents a $0.82 annualized dividend and a yield of 6.66%. KeyCorp’s payout ratio is 54.67%.

Insider Activity at KeyCorp

In other news, insider Andrew J. Paine III bought 75,000 shares of KeyCorp stock in a transaction dated Wednesday, May 3rd. The shares were bought at an average price of $9.78 per share, for a total transaction of $733,500.00. Following the purchase, the insider now owns 335,414 shares of the company’s stock, valued at $3,280,348.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other KeyCorp news, insider Amy G. Brady sold 12,388 shares of KeyCorp stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $10.11, for a total value of $125,242.68. Following the transaction, the insider now owns 106,733 shares in the company, valued at $1,079,070.63. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew J. Paine III bought 75,000 shares of KeyCorp stock in a transaction that occurred on Wednesday, May 3rd. The stock was bought at an average price of $9.78 per share, for a total transaction of $733,500.00. Following the completion of the acquisition, the insider now directly owns 335,414 shares of the company’s stock, valued at $3,280,348.92. The disclosure for this purchase can be found here. 0.54% of the stock is owned by corporate insiders.

KeyCorp Company 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.