KeyCorp $KEY Stock Position Raised by Pzena Investment Management LLC

Pzena Investment Management LLC increased its stake in KeyCorp (NYSE:KEY) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,648,725 shares of the financial services provider’s stock after purchasing an additional 3,630 shares during the quarter. Pzena Investment Management LLC’s holdings in KeyCorp were worth $28,721,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dakota Wealth Management grew 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 worth $477,000 after purchasing an additional 586 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in shares of KeyCorp by 2.9% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 639 shares in the last quarter. AlphaCore Capital LLC grew its holdings in shares of KeyCorp by 5.2% during the 1st quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 651 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of KeyCorp by 34.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 671 shares in the last quarter. Finally, Greenleaf Trust grew its holdings in shares of KeyCorp by 5.7% during the 2nd quarter. Greenleaf Trust now owns 12,738 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 691 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KEY has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price objective on KeyCorp from $20.50 to $21.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company boosted their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 price target on the stock. in a research note on Wednesday, July 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KeyCorp in a research note on Wednesday, October 8th. Finally, Evercore ISI boosted their price target on KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.86.

Insider Buying and Selling at KeyCorp

In other news, Director Trina M. Evans sold 17,000 shares of the business’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total transaction of $317,390.00. Following the completion of the sale, the director owned 82,719 shares in the company, valued at $1,544,363.73. The trade was a 17.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Andrew J. Paine III sold 44,953 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the sale, the insider owned 245,044 shares of the company’s stock, valued at approximately $4,726,898.76. The trade was a 15.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 174,102 shares of company stock worth $3,299,664. 0.52% of the stock is currently owned by insiders.

KeyCorp Trading Down 5.4%

Shares of KEY opened at $17.19 on Monday. The stock has a fifty day moving average price of $18.58 and a two-hundred day moving average price of $17.03. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The company has a market cap of $18.85 billion, a price-to-earnings ratio of -245.57, a PEG ratio of 0.55 and a beta of 1.15.

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

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.205 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.82 annualized dividend and a yield of 4.8%. KeyCorp’s payout ratio is presently -1,171.43%.

About KeyCorp

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.