Wealthcare Advisory Partners LLC Purchases 38,167 Shares of KeyCorp $KEY

Wealthcare Advisory Partners LLC lifted its position in shares of KeyCorp (NYSE:KEY) by 28.3% in the 2nd quarter, Holdings Channel reports. The fund owned 172,805 shares of the financial services provider’s stock after buying an additional 38,167 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in KeyCorp were worth $3,010,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in KeyCorp by 7.2% during the first quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider’s stock valued at $2,004,273,000 after purchasing an additional 8,412,625 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of KeyCorp by 40.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider’s stock valued at $814,756,000 after purchasing an additional 14,651,281 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in shares of KeyCorp by 12.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider’s stock valued at $487,882,000 after purchasing an additional 3,327,972 shares during the period. Invesco Ltd. lifted its stake in shares of KeyCorp by 19.5% during the 1st quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider’s stock valued at $329,777,000 after buying an additional 3,363,421 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in KeyCorp by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,201,253 shares of the financial services provider’s stock worth $179,084,000 after buying an additional 319,019 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on KEY shares. Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 target price on the stock. in a report on Wednesday, July 2nd. Truist Financial lifted their price target on KeyCorp from $17.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, July 28th. Morgan Stanley increased their price objective on KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. Citigroup restated a “neutral” rating and issued a $20.00 target price (up previously from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Finally, DA Davidson lifted their target price on KeyCorp from $19.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.47.

KeyCorp Trading Down 0.5%

Shares of KeyCorp stock opened at $18.53 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The firm has a market cap of $20.32 billion, a PE ratio of -264.71, a PEG ratio of 0.65 and a beta of 1.15. The company has a 50 day simple moving average of $18.58 and a two-hundred day simple moving average of $16.99.

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

KeyCorp Dividend Announcement

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

Insiders Place Their Bets

In related 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 transaction of $2,115,130.14. Following the transaction, 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 SEC, which is accessible through this link. Also, Director Trina M. Evans sold 17,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,544,363.73. This represents a 17.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,102 shares of company stock valued at $3,299,664 over the last 90 days. 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.