Verity & Verity LLC Grows Stake in KeyCorp (NYSE:KEY)

Verity & Verity LLC grew its holdings in KeyCorp (NYSE:KEYGet Rating) by 11.5% during the fourth quarter, HoldingsChannel reports. The fund owned 180,745 shares of the financial services provider’s stock after purchasing an additional 18,660 shares during the period. Verity & Verity LLC’s holdings in KeyCorp were worth $3,149,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Guardian Wealth Advisors LLC purchased a new position in shares of KeyCorp in the 3rd quarter valued at about $25,000. Brown Brothers Harriman & Co. increased its holdings in shares of KeyCorp by 93.0% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,631 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 786 shares during the last quarter. CNB Bank increased its holdings in shares of KeyCorp by 3,380.8% in the 2nd quarter. CNB Bank now owns 1,810 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 1,758 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in KeyCorp during the 1st quarter worth approximately $38,000. Finally, Point72 Hong Kong Ltd purchased a new position in KeyCorp during the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 82.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KEY shares. Robert W. Baird upgraded KeyCorp from a “neutral” rating to an “outperform” rating and set a $20.00 price target on the stock in a research note on Friday, March 10th. Keefe, Bruyette & Woods dropped their price target on KeyCorp from $20.00 to $19.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 8th. Piper Sandler upgraded KeyCorp from an “underweight” rating to a “neutral” rating and dropped their price target for the stock from $18.50 to $16.50 in a research note on Friday, March 10th. Morgan Stanley dropped their price target on KeyCorp from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on KeyCorp from $23.00 to $20.00 in a research note on Friday, January 6th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.87.

Insider Buying and Selling

In other news, Director Ruth Ann M. Gillis acquired 2,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, March 14th. The stock was purchased at an average cost of $12.95 per share, with a total value of $25,900.00. Following the completion of the acquisition, the director now owns 42,961 shares in the company, valued at approximately $556,344.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ruth Ann M. Gillis acquired 2,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, March 14th. The stock was purchased at an average cost of $12.95 per share, with a total value of $25,900.00. Following the completion of the acquisition, the director now owns 42,961 shares in the company, valued at approximately $556,344.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela G. Mago sold 5,352 shares of KeyCorp stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $19.95, for a total value of $106,772.40. Following the transaction, the insider now directly owns 194,280 shares of the company’s stock, valued at $3,875,886. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

KeyCorp Stock Down 6.1 %

KEY opened at $11.53 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.84 and a quick ratio of 0.84. The business has a 50 day simple moving average of $17.81 and a 200-day simple moving average of $17.64. The stock has a market capitalization of $10.74 billion, a P/E ratio of 6.01, a P/E/G ratio of 1.03 and a beta of 1.31. KeyCorp has a 12 month low of $9.60 and a 12 month high of $24.62.

KeyCorp (NYSE:KEYGet Rating) last posted its quarterly earnings results on Thursday, January 19th. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.17). The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.93 billion. KeyCorp had a net margin of 22.46% and a return on equity of 15.27%. During the same period in the prior year, the business earned $0.64 earnings per share. On average, equities analysts anticipate that KeyCorp will post 1.99 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were issued a dividend of $0.205 per share. The ex-dividend date was Monday, February 27th. This represents a $0.82 annualized dividend and a yield of 7.11%. KeyCorp’s dividend payout ratio is presently 42.71%.

KeyCorp Profile

(Get Rating)

KeyCorp is a bank holding company, which engages in the provision of financial services. It provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.

Further Reading

Want to see what other hedge funds are holding KEY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KeyCorp (NYSE:KEYGet Rating).

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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