Kestra Advisory Services LLC Boosts Stake in KeyCorp (NYSE:KEY)

Kestra Advisory Services LLC boosted its stake in shares of KeyCorp (NYSE:KEY) by 13.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 897,701 shares of the financial services provider’s stock after buying an additional 106,946 shares during the period. Kestra Advisory Services LLC owned 0.10% of KeyCorp worth $14,193,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of KEY. Raymond James & Associates lifted its holdings in shares of KeyCorp by 44.1% during the 4th quarter. Raymond James & Associates now owns 1,610,148 shares of the financial services provider’s stock valued at $23,186,000 after purchasing an additional 492,584 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of KeyCorp by 3.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 181,902 shares of the financial services provider’s stock valued at $2,619,000 after purchasing an additional 6,002 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of KeyCorp by 20.1% during the 4th quarter. Blue Trust Inc. now owns 12,030 shares of the financial services provider’s stock valued at $173,000 after purchasing an additional 2,016 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of KeyCorp by 15.8% during the 4th quarter. Global Retirement Partners LLC now owns 6,592 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 901 shares during the last quarter. Finally, Washington Capital Management Inc. lifted its holdings in shares of KeyCorp by 162.1% during the 4th quarter. Washington Capital Management Inc. now owns 88,705 shares of the financial services provider’s stock valued at $1,277,000 after purchasing an additional 54,855 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE:KEY traded down $0.16 during trading on Monday, reaching $16.30. 1,009,053 shares of the company’s stock traded hands, compared to its average volume of 14,795,055. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $16.48. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. The firm has a market cap of $15.37 billion, a PE ratio of 20.84, a P/E/G ratio of 0.89 and a beta of 1.26. The company has a 50-day simple moving average of $14.46 and a 200-day simple moving average of $14.57.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. KeyCorp’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. As a group, analysts predict that KeyCorp will post 1.12 earnings per share for the current year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date is Tuesday, August 27th. KeyCorp’s dividend payout ratio is presently 103.80%.

Analysts Set New Price Targets

Several analysts have recently commented on KEY shares. Keefe, Bruyette & Woods increased their price objective on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Wedbush upped their target price on KeyCorp from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Jefferies Financial Group upped their target price on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 8th. DA Davidson upped their target price on KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. cut their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.13.

KeyCorp Company 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.