Intech Investment Management LLC Has $3.63 Million Stake in KeyCorp $KEY

Intech Investment Management LLC boosted its holdings in KeyCorp (NYSE:KEY) by 46.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 194,186 shares of the financial services provider’s stock after acquiring an additional 61,491 shares during the quarter. Intech Investment Management LLC’s holdings in KeyCorp were worth $3,629,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fox Run Management L.L.C. lifted its stake in shares of KeyCorp by 8.7% in the 3rd quarter. Fox Run Management L.L.C. now owns 12,343 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 988 shares during the period. Cozad Asset Management Inc. grew its stake in shares of KeyCorp by 0.7% during the third quarter. Cozad Asset Management Inc. now owns 133,875 shares of the financial services provider’s stock worth $2,502,000 after purchasing an additional 923 shares during the period. Mufg Securities Americas Inc. increased its holdings in KeyCorp by 15.0% in the third quarter. Mufg Securities Americas Inc. now owns 27,207 shares of the financial services provider’s stock valued at $508,000 after purchasing an additional 3,558 shares during the last quarter. Compound Planning Inc. increased its holdings in KeyCorp by 17.1% in the third quarter. Compound Planning Inc. now owns 30,243 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 4,407 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in KeyCorp by 22.0% in the third quarter. Bleakley Financial Group LLC now owns 15,656 shares of the financial services provider’s stock valued at $293,000 after buying an additional 2,828 shares during the period. 79.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada boosted their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Evercore boosted their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Weiss Ratings raised shares of KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Piper Sandler increased their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Finally, Robert W. Baird set a $19.00 price target on shares of KeyCorp and gave the company a “neutral” rating in a report on Tuesday, February 24th. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.92.

Insiders Place Their Bets

In other KeyCorp news, Director Trina M. Evans sold 32,695 shares of KeyCorp stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total value of $710,789.30. Following the sale, the director owned 58,719 shares of the company’s stock, valued at $1,276,551.06. This trade represents a 35.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Angela G. Mago sold 62,850 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $21.55, for a total value of $1,354,417.50. Following the completion of the sale, the insider owned 261,415 shares in the company, valued at approximately $5,633,493.25. This trade represents a 19.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 161,506 shares of company stock worth $3,597,481. Corporate insiders own 0.52% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $20.71 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83. KeyCorp has a 52 week low of $12.73 and a 52 week high of $23.34. The company’s 50 day moving average price is $21.51 and its two-hundred day moving average price is $19.58. The company has a market capitalization of $22.56 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The company had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the company earned $0.30 earnings per share. The business’s quarterly revenue was up 131.8% compared to the same quarter last year. On average, analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Tuesday, March 3rd. KeyCorp’s dividend payout ratio is 53.95%.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.