23,762 Shares in KeyCorp $KEY Acquired by SMART Wealth LLC

SMART Wealth LLC purchased a new position in KeyCorp (NYSE:KEY) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 23,762 shares of the financial services provider’s stock, valued at approximately $476,000.

Several other large investors also recently bought and sold shares of the company. Maseco LLP purchased a new stake in shares of KeyCorp during the fourth quarter valued at approximately $27,000. DV Equities LLC purchased a new position in shares of KeyCorp in the fourth quarter valued at $27,000. GoalVest Advisory LLC purchased a new position in shares of KeyCorp in the fourth quarter valued at $30,000. Smithfield Trust Co acquired a new stake in KeyCorp during the 4th quarter valued at $31,000. Finally, Kelleher Financial Advisors acquired a new stake in KeyCorp during the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on KEY. Susquehanna boosted their price objective on shares of KeyCorp from $300.00 to $415.00 and gave the stock a “positive” rating in a report on Monday, May 18th. Piper Sandler upped their price objective on shares of KeyCorp from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Weiss Ratings upgraded KeyCorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. The Goldman Sachs Group lifted their target price on KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, Jefferies Financial Group boosted their price target on KeyCorp from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, April 17th. Thirteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and an average price target of $46.55.

KeyCorp Trading Down 0.4%

KEY opened at $23.05 on Wednesday. The stock has a market capitalization of $24.88 billion, a PE ratio of 14.14, a P/E/G ratio of 0.73 and a beta of 1.03. The firm’s fifty day moving average price is $21.93 and its 200 day moving average price is $21.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. KeyCorp has a 12-month low of $16.47 and a 12-month high of $23.72.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. As a group, research analysts expect that KeyCorp will post 1.82 EPS for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.82 annualized dividend and a dividend yield of 3.6%. KeyCorp’s dividend payout ratio (DPR) is presently 50.31%.

KeyCorp declared that its board has approved a share repurchase program on Wednesday, May 13th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 13% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at KeyCorp

In related news, insider Angela G. Mago sold 22,826 shares of KeyCorp stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $21.66, for a total value of $494,411.16. Following the completion of the transaction, the insider directly owned 281,564 shares in the company, valued at approximately $6,098,676.24. This trade represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.56% of the company’s stock.

About KeyCorp

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.