WBI Investments Inc. Grows Stock Holdings in KeyCorp (NYSE:KEY)

WBI Investments Inc. raised its stake in shares of KeyCorp (NYSE:KEYFree Report) by 4.6% during the third quarter, HoldingsChannel reports. The firm owned 170,804 shares of the financial services provider’s stock after purchasing an additional 7,524 shares during the quarter. WBI Investments Inc.’s holdings in KeyCorp were worth $1,838,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in KeyCorp by 2.1% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 26,413 shares of the financial services provider’s stock valued at $460,000 after purchasing an additional 540 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of KeyCorp by 2.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,363 shares of the financial services provider’s stock valued at $424,000 after acquiring an additional 584 shares during the period. BOKF NA raised its stake in shares of KeyCorp by 3.4% in the 4th quarter. BOKF NA now owns 20,170 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 665 shares during the period. Cetera Investment Advisers raised its stake in shares of KeyCorp by 4.1% in the 1st quarter. Cetera Investment Advisers now owns 18,427 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 720 shares during the period. Finally, Neuberger Berman Group LLC raised its stake in shares of KeyCorp by 1.4% in the 4th quarter. Neuberger Berman Group LLC now owns 56,920 shares of the financial services provider’s stock valued at $992,000 after acquiring an additional 798 shares during the period. Institutional investors and hedge funds own 77.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KEY shares. Piper Sandler boosted their price target 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 boosted their price target on shares of KeyCorp from $12.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, December 14th. Jefferies Financial Group raised shares of KeyCorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $10.00 to $17.00 in a research note on Tuesday, January 9th. Wedbush reduced their price target on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Finally, The Goldman Sachs Group upped their target price on shares of KeyCorp from $13.50 to $15.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Read Our Latest Analysis on KeyCorp

KeyCorp Stock Up 0.6 %

Shares of NYSE:KEY opened at $13.98 on Monday. The stock has a market cap of $13.09 billion, a P/E ratio of 15.61 and a beta of 1.29. The firm has a fifty day moving average price of $14.14 and a 200 day moving average price of $12.20. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.86 and a quick ratio of 0.86. KeyCorp has a 1-year low of $8.53 and a 1-year high of $19.65.

KeyCorp (NYSE:KEYGet Free Report) last issued its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. During the same quarter in the prior year, the business earned $0.38 EPS. Sell-side analysts predict that KeyCorp will post 1.22 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Tuesday, February 27th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date of this dividend is Monday, February 26th. KeyCorp’s dividend payout ratio is currently 92.13%.

Insider Buying and Selling

In other KeyCorp news, CAO Douglas M. Schosser sold 14,383 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $13.37, for a total transaction of $192,300.71. Following the completion of the transaction, the chief accounting officer now owns 19,795 shares in the company, valued at approximately $264,659.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is owned by company insiders.

About KeyCorp

(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.

Read More

Want to see what other hedge funds are holding KEY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KeyCorp (NYSE:KEYFree Report).

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.