Investors Asset Management of Georgia Inc. GA ADV Buys 639 Shares of KeyCorp $KEY

Investors Asset Management of Georgia Inc. GA ADV grew its position in KeyCorp (NYSE:KEY) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,412 shares of the financial services provider’s stock after purchasing an additional 639 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in KeyCorp were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Dakota Wealth Management raised its holdings in KeyCorp by 2.2% in the 2nd quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 586 shares during the period. AlphaCore Capital LLC grew its position in shares of KeyCorp by 5.2% in the first quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 651 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of KeyCorp by 34.0% in the first quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 671 shares during the last quarter. Greenleaf Trust increased 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 purchasing an additional 691 shares during the period. Finally, Voya Investment Management LLC lifted its position in shares of KeyCorp by 0.3% during the 1st quarter. Voya Investment Management LLC now owns 276,264 shares of the financial services provider’s stock worth $4,417,000 after purchasing an additional 713 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on KEY shares. Evercore ISI increased their target price on KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Citigroup reiterated a “neutral” rating and set a $20.00 price target (up from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Royal Bank Of Canada raised their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Truist Financial boosted their target price on shares of KeyCorp from $17.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, July 28th. Finally, DA Davidson increased their price target on shares of KeyCorp from $19.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.47.

Insider Buying and Selling

In other KeyCorp news, CEO Christopher M. Gorman sold 112,149 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the completion of the transaction, the chief executive officer owned 619,895 shares in the company, valued at $11,691,219.70. This trade represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew J. Paine III sold 44,953 shares of KeyCorp stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the sale, the insider directly owned 245,044 shares in the company, valued at $4,726,898.76. The trade was a 15.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,102 shares of company stock valued at $3,299,664 over the last quarter. Corporate insiders own 0.52% of the company’s stock.

KeyCorp Stock Performance

KEY opened at $18.63 on Monday. The stock’s 50 day simple moving average is $18.58 and its 200-day simple moving average is $16.97. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. The stock has a market cap of $20.43 billion, a PE ratio of -266.17, a P/E/G ratio of 0.65 and a beta of 1.15. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the company earned $0.25 earnings per share. The business’s revenue was up 20.6% compared to the same quarter last year. Sell-side analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.82 dividend on an annualized basis and a yield of 4.4%. KeyCorp’s payout ratio is presently -1,171.43%.

KeyCorp Company 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.