HoldCo Asset Management LP Acquires New Shares in KeyCorp $KEY

HoldCo Asset Management LP bought a new position in shares of KeyCorp (NYSE:KEY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,994,000 shares of the financial services provider’s stock, valued at approximately $86,995,000. KeyCorp comprises 13.6% of HoldCo Asset Management LP’s holdings, making the stock its 4th biggest position. HoldCo Asset Management LP owned about 0.46% of KeyCorp at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dakota Wealth Management increased its holdings in shares of KeyCorp by 2.2% during the 2nd quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock valued at $477,000 after acquiring an additional 586 shares during the last quarter. Bryn Mawr Trust Advisors LLC boosted its position in KeyCorp by 4.8% during the second quarter. Bryn Mawr Trust Advisors LLC now owns 13,363 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 608 shares during the period. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in KeyCorp by 2.9% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 639 shares during the last quarter. Amalgamated Bank raised its position in shares of KeyCorp by 0.4% in the second quarter. Amalgamated Bank now owns 187,940 shares of the financial services provider’s stock valued at $3,274,000 after purchasing an additional 683 shares during the period. Finally, Greenleaf Trust lifted its stake in shares of KeyCorp by 5.7% in the second quarter. Greenleaf Trust now owns 12,738 shares of the financial services provider’s stock worth $222,000 after buying an additional 691 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of KeyCorp from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, December 1st. Keefe, Bruyette & Woods upped their price target on shares of KeyCorp from $20.50 to $21.00 and gave the company an “outperform” rating in a report on Friday, October 10th. TD Cowen upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Tuesday. Cowen upgraded KeyCorp from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, DA Davidson raised their target price on KeyCorp from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and an average price target of $20.91.

KeyCorp Trading Down 0.3%

KeyCorp stock opened at $20.62 on Friday. The business has a 50 day moving average price of $18.07 and a two-hundred day moving average price of $17.97. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market cap of $22.54 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 0.62 and a beta of 1.11. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.84.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.KeyCorp’s revenue for the quarter was up 172.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.47) EPS. As a group, equities analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Tuesday, December 2nd will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, December 2nd. KeyCorp’s dividend payout ratio is 101.23%.

KeyCorp Profile

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.