Lazari Capital Management Inc. Has $151,000 Stake in KeyCorp (NYSE:KEY)

Lazari Capital Management Inc. lessened its stake in KeyCorp (NYSE:KEY) by 26.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,498 shares of the financial services provider’s stock after selling 3,802 shares during the period. Lazari Capital Management Inc.’s holdings in KeyCorp were worth $151,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board raised its stake in shares of KeyCorp by 20.3% in the 3rd quarter. Canada Pension Plan Investment Board now owns 210,900 shares of the financial services provider’s stock valued at $2,269,000 after buying an additional 35,600 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in KeyCorp by 15.4% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 188,183 shares of the financial services provider’s stock worth $2,025,000 after acquiring an additional 25,070 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new position in shares of KeyCorp during the third quarter valued at $138,000. Aviva PLC boosted its stake in shares of KeyCorp by 256.3% in the 3rd quarter. Aviva PLC now owns 320,794 shares of the financial services provider’s stock valued at $3,452,000 after purchasing an additional 230,747 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its stake in shares of KeyCorp by 27.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 756,478 shares of the financial services provider’s stock valued at $8,140,000 after purchasing an additional 164,297 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Down 2.1 %

Shares of KEY traded down $0.28 on Friday, hitting $13.36. The company’s stock had a trading volume of 14,013,216 shares, compared to its average volume of 10,856,636. The firm’s fifty day moving average price is $14.58 and its 200-day moving average price is $14.41. KeyCorp has a fifty-two week low of $9.10 and a fifty-two week high of $15.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 0.65 and a beta of 1.28.

KeyCorp (NYSE:KEY) last released its quarterly 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). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. On average, equities research analysts expect that KeyCorp will post 1.13 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date of this dividend was Friday, May 24th. KeyCorp’s dividend payout ratio (DPR) is currently 103.80%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KEY shares. Royal Bank of Canada lifted their price target on shares of KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Evercore ISI lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods boosted their target price on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Jefferies Financial Group raised their price target on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. reduced their price objective on KeyCorp from $18.00 to $17.50 and set a “neutral” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.97.

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.