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

SMART Wealth LLC acquired a new position in KeyCorp (NYSE:KEY) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 23,762 shares of the financial services provider’s stock, valued at approximately $476,000.

Other institutional investors have also recently added to or reduced their stakes in the company. DV Equities LLC bought a new stake in shares of KeyCorp during the 4th quarter valued at about $27,000. Maseco LLP acquired a new stake in KeyCorp during the fourth quarter worth about $27,000. GoalVest Advisory LLC bought a new position in KeyCorp in the fourth quarter worth about $30,000. Smithfield Trust Co bought a new position in KeyCorp in the fourth quarter worth about $31,000. Finally, True Wealth Design LLC boosted its stake in KeyCorp by 1,263.5% in the fourth quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 1,592 shares during the period. Institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on KEY shares. Morgan Stanley reaffirmed a “positive” rating on shares of KeyCorp in a report on Monday. Jefferies Financial Group raised their price target on KeyCorp from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, April 17th. Susquehanna boosted their price objective on KeyCorp from $300.00 to $415.00 and gave the company a “positive” rating in a research report on Monday, May 18th. Wall Street Zen downgraded KeyCorp from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised KeyCorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and an average price target of $46.55.

KeyCorp Trading Down 0.4%

KeyCorp stock opened at $23.05 on Wednesday. KeyCorp has a 52-week low of $16.47 and a 52-week high of $23.72. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $24.88 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 0.73 and a beta of 1.03. The firm has a 50-day moving average price of $21.93 and a two-hundred day moving average price of $21.31.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. The company had revenue of $1.95 billion for 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%. KeyCorp’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share. Sell-side analysts expect that KeyCorp will post 1.82 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, June 2nd. KeyCorp’s dividend payout ratio is 50.31%.

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

Insider Transactions at KeyCorp

In related news, insider Angela G. Mago sold 22,826 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $21.66, for a total value of $494,411.16. Following the sale, the insider directly owned 281,564 shares in the company, valued at $6,098,676.24. This trade represents a 7.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.

KeyCorp 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.