Planned Solutions Inc. Makes New Investment in KeyCorp (NYSE:KEY)

Planned Solutions Inc. bought a new stake in KeyCorp (NYSE:KEY) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,465 shares of the financial services provider’s stock, valued at approximately $79,000.

Other large investors have also modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new position in KeyCorp in the fourth quarter worth $26,000. Sound Income Strategies LLC lifted its holdings in KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,836 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in KeyCorp in the third quarter valued at approximately $28,000. Baldwin Brothers LLC MA acquired a new position in KeyCorp during the 4th quarter valued at approximately $35,000. Finally, Point72 Asset Management L.P. acquired a new stake in KeyCorp in the second quarter worth $37,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Up 3.9 %

Shares of KEY opened at $15.65 on Thursday. The stock’s fifty day simple moving average is $14.40 and its 200-day simple moving average is $12.90. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $14.51 billion, a PE ratio of 17.58 and a beta of 1.27. KeyCorp has a 12-month low of $8.53 and a 12-month high of $15.65.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm earned $0.38 EPS. As a group, research analysts predict that KeyCorp will post 1.18 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a $0.205 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.24%. KeyCorp’s dividend payout ratio is 92.13%.

Analyst Upgrades and Downgrades

KEY has been the subject of several analyst reports. Wedbush reduced their price objective on KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Barclays lowered their price target on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, January 19th. DA Davidson dropped their price objective on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, January 19th. Royal Bank of Canada raised their price target on KeyCorp from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Finally, Jefferies Financial Group upgraded KeyCorp from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $17.00 in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.69.

Insiders Place Their Bets

In other news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the sale, the insider now directly owns 98,120 shares in the company, valued at $1,376,623.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other KeyCorp news, CAO Douglas M. Schosser sold 3,326 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $46,564.00. Following the transaction, the chief accounting officer now owns 19,795 shares of the company’s stock, valued at $277,130. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the sale, the insider now directly owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,442 shares of company stock worth $303,914. Company insiders own 0.61% of the company’s stock.

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.