KeyCorp (NYSE:KEY) Shares Bought by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC boosted its stake in shares of KeyCorp (NYSE:KEY) by 13.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 22,341 shares of the financial services provider’s stock after purchasing an additional 2,687 shares during the period. Beverly Hills Private Wealth LLC’s holdings in KeyCorp were worth $317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KEY. Pathway Financial Advisers LLC acquired a new stake in KeyCorp during the first quarter worth about $25,000. Crewe Advisors LLC acquired a new position in KeyCorp in the first quarter valued at approximately $32,000. Fidelis Capital Partners LLC purchased a new stake in KeyCorp in the 1st quarter worth approximately $39,000. Quarry LP acquired a new stake in shares of KeyCorp during the 4th quarter worth approximately $38,000. Finally, Centerpoint Advisors LLC increased its holdings in shares of KeyCorp by 127.7% during the 1st quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 2,107 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KEY. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price target on shares of KeyCorp in a report on Tuesday, August 13th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research report on Tuesday. Jefferies Financial Group increased their price target on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. UBS Group cut KeyCorp from a “buy” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $15.00 in a research report on Monday, July 8th. Finally, Evercore ISI decreased their target price on KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.65.

Insider Transactions at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares in the company, valued at approximately $759,665.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

KeyCorp Trading Down 0.1 %

KEY opened at $16.09 on Friday. The stock has a market capitalization of $15.18 billion, a PE ratio of 20.37, a P/E/G ratio of 0.89 and a beta of 1.25. KeyCorp has a one year low of $9.50 and a one year high of $17.20. 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 price is $15.84 and its 200 day moving average price is $15.01.

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

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend was Tuesday, August 27th. KeyCorp’s dividend payout ratio is presently 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.