Strategic Investment Advisors MI Takes $529,000 Position in KeyCorp (NYSE:KEY)
Strategic Investment Advisors MI acquired a new stake in shares of KeyCorp (NYSE:KEY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 32,250 shares of the financial services provider’s stock, valued at approximately $529,000.
Several other large investors also recently made changes to their positions in KEY. Mercer Global Advisors Inc. ADV grew its holdings in KeyCorp by 0.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 83,772 shares of the financial services provider’s stock worth $999,000 after acquiring an additional 784 shares during the period. Moloney Securities Asset Management LLC boosted its stake in shares of KeyCorp by 0.7% during the third quarter. Moloney Securities Asset Management LLC now owns 125,661 shares of the financial services provider’s stock valued at $1,499,000 after purchasing an additional 909 shares during the period. Sterling Investment Advisors Ltd. lifted its stake in KeyCorp by 33.3% in the third quarter. Sterling Investment Advisors Ltd. now owns 4,000 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 1,000 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in KeyCorp by 12.3% in the third quarter. Steward Partners Investment Advisory LLC now owns 9,549 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,045 shares during the period. Finally, Gilbert & Cook Inc. lifted its position in shares of KeyCorp by 9.4% during the third quarter. Gilbert & Cook Inc. now owns 12,468 shares of the financial services provider’s stock valued at $149,000 after buying an additional 1,071 shares during the last quarter. Institutional investors own 76.59% of the company’s stock.
Shares of KEY stock opened at $18.79 on Thursday. The stock has a market capitalization of $18.35 billion, a P/E ratio of 16.34 and a beta of 1.57. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.80. The firm’s 50 day moving average is $16.43 and its 200 day moving average is $13.61. KeyCorp has a 12 month low of $7.45 and a 12 month high of $20.24.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st were paid a $0.185 dividend. The ex-dividend date was Monday, November 30th. This represents a $0.74 annualized dividend and a dividend yield of 3.94%. KeyCorp’s payout ratio is 41.11%.
KEY has been the topic of several recent research reports. Morgan Stanley upped their price objective on KeyCorp from $18.00 to $19.50 and gave the stock an “equal weight” rating in a research report on Thursday, January 7th. Deutsche Bank Aktiengesellschaft raised their price objective on KeyCorp from $14.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, January 6th. Royal Bank of Canada raised their price objective on KeyCorp from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, November 12th. TheStreet raised KeyCorp from a “c+” rating to a “b” rating in a research report on Tuesday, November 3rd. Finally, Wedbush downgraded KeyCorp from an “outperform” rating to a “neutral” rating and set a $14.00 target price for the company. in a research report on Monday, October 26th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.42.
In related news, Director Trina M. Evans sold 15,861 shares of the stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $16.51, for a total value of $261,865.11. Following the completion of the transaction, the director now directly owns 83,620 shares in the company, valued at approximately $1,380,566.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by company insiders.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking 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, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.
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