State Street Corp Sells 805,218 Shares of KeyCorp $KEY

by · The Markets Daily

State Street Corp lowered its holdings in shares of KeyCorp (NYSE:KEY – Free Report) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,603,252 shares of the financial services provider’s stock after selling 805,218 shares during the quarter. State Street Corp owned about 4.34% of KeyCorp worth $829,249,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of KEY. Activest Wealth Management boosted its stake in shares of KeyCorp by 8,775.0% during the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,404 shares in the last quarter. Tompkins Financial Corp bought a new stake in KeyCorp during the second quarter worth approximately $26,000. Zions Bancorporation National Association UT acquired a new position in KeyCorp during the first quarter valued at approximately $28,000. Elevation Point Wealth Partners LLC bought a new stake in KeyCorp during the second quarter valued at about $36,000. Finally, Concord Wealth Partners grew its position in shares of KeyCorp by 71.5% in the second quarter. Concord Wealth Partners now owns 2,183 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 910 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Stock Up 0.8%

Shares of KEY stock opened at $20.68 on Friday. KeyCorp has a one year low of $12.73 and a one year high of $20.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a fifty day moving average price of $18.03 and a 200 day moving average price of $17.93. The stock has a market cap of $22.60 billion, a P/E ratio of 25.53, a price-to-earnings-growth ratio of 0.61 and a beta of 1.11.

KeyCorp (NYSE:KEY – Get Free Report) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The business’s revenue was up 172.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.47) EPS. Analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.0%. KeyCorp’s dividend payout ratio is presently 101.23%.

Analyst Ratings Changes

Several brokerages recently weighed in on KEY. UBS Group increased their target price on KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. DA Davidson upped their price target on KeyCorp from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley raised their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Wells Fargo & Company upped their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Finally, Keefe, Bruyette & Woods raised their price target on shares of KeyCorp from $20.50 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.91.

Get Our Latest Research Report on KeyCorp

KeyCorp Company Profile

(Free Report)

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.

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