Intact Investment Management Inc. Grows Stock Holdings in KeyCorp (NYSE:KEY)

Intact Investment Management Inc. lifted its position in KeyCorp (NYSE:KEY) by 2.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 284,650 shares of the financial services provider’s stock after buying an additional 6,450 shares during the period. Intact Investment Management Inc.’s holdings in KeyCorp were worth $4,045,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new position in KeyCorp in the first quarter worth $25,000. First United Bank & Trust purchased a new position in KeyCorp during the 4th quarter worth $29,000. Crewe Advisors LLC acquired a new position in KeyCorp during the 1st quarter valued at about $32,000. Quarry LP acquired a new position in KeyCorp during the 4th quarter valued at about $38,000. Finally, Fidelis Capital Partners LLC purchased a new stake in KeyCorp in the first quarter valued at about $39,000. Institutional investors own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KEY. Jefferies Financial Group upped their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 19th. Citigroup upped their price target on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price objective on shares of KeyCorp in a research note on Tuesday, August 13th. Wedbush boosted their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, UBS Group lowered KeyCorp from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.65.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the sale, the director now directly owns 46,864 shares of the company’s stock, valued at $759,665.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

KeyCorp Stock Performance

NYSE KEY traded up $0.18 during mid-day trading on Friday, reaching $17.06. 12,129,062 shares of the stock were exchanged, compared to its average volume of 15,029,072. The company has a market capitalization of $16.09 billion, a P/E ratio of 21.59, a P/E/G ratio of 0.94 and a beta of 1.26. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. The business’s 50 day moving average is $15.39 and its 200-day moving average is $14.86. KeyCorp has a 1 year low of $9.50 and a 1 year high of $17.20.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the company posted $0.27 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities research analysts forecast that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 annualized dividend and a yield of 4.81%. KeyCorp’s dividend payout ratio (DPR) is currently 103.80%.

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.