Washington Capital Management Inc. increased its position in KeyCorp (NYSE:KEY – Free Report) by 162.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 88,705 shares of the financial services provider’s stock after acquiring an additional 54,855 shares during the quarter. KeyCorp makes up about 1.1% of Washington Capital Management Inc.’s holdings, making the stock its 16th biggest holding. Washington Capital Management Inc.’s holdings in KeyCorp were worth $1,277,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of KEY. Bruce G. Allen Investments LLC bought a new position in shares of KeyCorp in the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC boosted its position in shares of KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,836 shares during the period. Cary Street Partners Investment Advisory LLC bought a new position in shares of KeyCorp in the third quarter valued at approximately $28,000. Baldwin Brothers LLC MA bought a new position in shares of KeyCorp in the fourth quarter valued at approximately $35,000. Finally, Point72 Asset Management L.P. purchased a new stake in KeyCorp in the second quarter valued at approximately $37,000. 79.69% of the stock is currently owned by institutional investors.
Insider Activity at KeyCorp
In related news, Director Trina M. Evans sold 12,335 shares of KeyCorp stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.23, for a total value of $175,527.05. Following the sale, the director now owns 81,622 shares in the company, valued at $1,161,481.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Trina M. Evans sold 12,335 shares of KeyCorp stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.23, for a total value of $175,527.05. Following the sale, the director now owns 81,622 shares in the company, valued at $1,161,481.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Douglas M. Schosser sold 3,326 shares of KeyCorp stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total transaction of $46,564.00. Following the completion of the sale, the chief accounting officer now owns 19,795 shares in the company, valued at approximately $277,130. The disclosure for this sale can be found here. Insiders have sold a total of 21,442 shares of company stock worth $303,914 over the last quarter. Corporate insiders own 0.61% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on KEY. Piper Sandler raised their target price on shares of KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Wells Fargo & Company raised their target price on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday. DA Davidson lowered their target price on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, January 19th. Royal Bank of Canada raised their target price on shares of KeyCorp from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Morgan Stanley lifted their price target on shares of KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.
Get Our Latest Stock Analysis on KEY
KeyCorp Stock Up 1.1 %
Shares of NYSE KEY opened at $15.81 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. KeyCorp has a 52 week low of $8.53 and a 52 week high of $15.86. The firm’s fifty day moving average is $14.52 and its 200 day moving average is $12.97. The company has a market cap of $14.66 billion, a price-to-earnings ratio of 17.76 and a beta of 1.27.
KeyCorp (NYSE:KEY – Get Free Report) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. On average, equities research analysts expect that KeyCorp will post 1.18 earnings per share for the current year.
KeyCorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend was Monday, February 26th. KeyCorp’s dividend payout ratio (DPR) is currently 92.13%.
About KeyCorp
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; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.
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