J. Safra Sarasin Holding AG Makes New Investment in KeyCorp $KEY

J. Safra Sarasin Holding AG acquired a new position in KeyCorp (NYSE:KEY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,339 shares of the financial services provider’s stock, valued at approximately $337,000.

Several other large investors have also recently bought and sold shares of KEY. ASR Vermogensbeheer N.V. increased its position in shares of KeyCorp by 4.1% in the second quarter. ASR Vermogensbeheer N.V. now owns 77,970 shares of the financial services provider’s stock valued at $1,358,000 after buying an additional 3,087 shares in the last quarter. CHURCHILL MANAGEMENT Corp increased its position in shares of KeyCorp by 4.2% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 505,544 shares of the financial services provider’s stock valued at $8,807,000 after buying an additional 20,500 shares in the last quarter. LBP AM SA increased its position in shares of KeyCorp by 161.7% in the second quarter. LBP AM SA now owns 577,554 shares of the financial services provider’s stock valued at $10,061,000 after buying an additional 356,822 shares in the last quarter. Greenleaf Trust increased its position in shares of KeyCorp by 5.7% in the second quarter. Greenleaf Trust now owns 12,738 shares of the financial services provider’s stock valued at $222,000 after buying an additional 691 shares in the last quarter. Finally, Centennial Wealth Advisory LLC increased its position in shares of KeyCorp by 5.9% in the second quarter. Centennial Wealth Advisory LLC now owns 42,754 shares of the financial services provider’s stock valued at $745,000 after buying an additional 2,384 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. Weiss Ratings restated a “hold (c)” rating on shares of KeyCorp in a research report on Saturday, September 27th. Morgan Stanley raised their price target on KeyCorp from $20.00 to $24.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Royal Bank Of Canada raised their price target on KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, TD Cowen increased their price objective on KeyCorp from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Friday. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.47.

KeyCorp Stock Up 1.0%

KEY opened at $18.63 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a market cap of $20.43 billion, a P/E ratio of -266.17, a PEG ratio of 0.65 and a beta of 1.15. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The business’s fifty day simple moving average is $18.58 and its 200 day simple moving average is $16.96.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, equities research analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. KeyCorp’s dividend payout ratio (DPR) is presently -1,171.43%.

Insiders Place Their Bets

In other KeyCorp news, CEO Christopher M. Gorman sold 112,149 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total value of $2,115,130.14. Following the sale, the chief executive officer directly owned 619,895 shares of the company’s stock, valued at approximately $11,691,219.70. This trade represents a 15.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Trina M. Evans sold 17,000 shares of the firm’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the completion of the sale, the director directly owned 82,719 shares in the company, valued at approximately $1,544,363.73. The trade was a 17.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 174,102 shares of company stock valued at $3,299,664. Insiders own 0.52% of the company’s stock.

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.