KeyCorp (NYSE:KEY) Shares Acquired by WBI Investments LLC

WBI Investments LLC lifted its position in KeyCorp (NYSE:KEY) by 29.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 221,257 shares of the financial services provider’s stock after purchasing an additional 50,453 shares during the quarter. WBI Investments LLC’s holdings in KeyCorp were worth $3,186,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in KEY. Nisa Investment Advisors LLC grew its position in shares of KeyCorp by 8.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock worth $3,931,000 after acquiring an additional 21,395 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in KeyCorp by 35.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock valued at $4,747,000 after purchasing an additional 86,579 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of KeyCorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock valued at $337,191,000 after buying an additional 289,258 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of KeyCorp during the fourth quarter worth about $1,556,000. Finally, Miller Howard Investments Inc. NY purchased a new position in shares of KeyCorp during the fourth quarter worth about $7,200,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on KEY. Wells Fargo & Company upped their price objective on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Jefferies Financial Group lifted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Piper Sandler raised their target price on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Argus boosted their price target on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.71.

KeyCorp Price Performance

Shares of KEY stock traded down $0.29 during mid-day trading on Wednesday, reaching $15.03. The stock had a trading volume of 7,185,580 shares, compared to its average volume of 15,183,609. The company has a market cap of $14.17 billion, a P/E ratio of 19.00 and a beta of 1.28. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. KeyCorp has a 12-month low of $9.10 and a 12-month high of $15.86. The business has a 50-day simple moving average of $14.97 and a 200 day simple moving average of $14.14.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the business posted $0.44 earnings per share. The business’s revenue was down 10.6% compared to the same quarter last year. On average, sell-side analysts anticipate that KeyCorp will post 1.14 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend is Friday, May 24th. KeyCorp’s dividend payout ratio (DPR) is presently 103.80%.

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.