Nisa Investment Advisors LLC Increases Stock Position in KeyCorp (NYSE:KEY)

Nisa Investment Advisors LLC increased its position in shares of KeyCorp (NYSE:KEY) by 17.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 301,025 shares of the financial services provider’s stock after buying an additional 44,505 shares during the period. Nisa Investment Advisors LLC’s holdings in KeyCorp were worth $4,813,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board boosted its holdings in KeyCorp by 4.7% during the first quarter. New Mexico Educational Retirement Board now owns 46,337 shares of the financial services provider’s stock worth $741,000 after buying an additional 2,100 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in KeyCorp by 36.4% during the first quarter. Hexagon Capital Partners LLC now owns 3,288 shares of the financial services provider’s stock worth $53,000 after buying an additional 877 shares in the last quarter. World Investment Advisors purchased a new stake in KeyCorp during the first quarter worth $199,000. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in KeyCorp by 24.5% during the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 21,773 shares of the financial services provider’s stock worth $347,000 after buying an additional 4,282 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in KeyCorp by 15.1% during the first quarter. IFM Investors Pty Ltd now owns 165,629 shares of the financial services provider’s stock worth $2,774,000 after buying an additional 21,789 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Price Performance

Shares of KEY opened at $18.34 on Friday. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04. The stock has a market cap of $20.10 billion, a PE ratio of -107.88, a P/E/G ratio of 0.69 and a beta of 1.11. The firm has a 50-day simple moving average of $16.52 and a two-hundred day simple moving average of $16.37. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.84 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. KeyCorp had a negative net margin of 0.12% and a positive return on equity of 9.43%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the business earned $0.20 earnings per share. As a group, analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend was Tuesday, May 27th. KeyCorp’s payout ratio is -482.35%.

Insider Activity

In other KeyCorp news, insider Mohit Ramani acquired 10,000 shares of the stock in a transaction dated Monday, April 21st. The stock was acquired at an average price of $13.75 per share, with a total value of $137,500.00. Following the completion of the purchase, the insider owned 10,000 shares in the company, valued at $137,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlton L. Highsmith sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the transaction, the director directly owned 37,177 shares of the company’s stock, valued at approximately $617,138.20. The trade was a 11.85% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays lowered their price target on shares of KeyCorp from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their price objective on shares of KeyCorp from $18.50 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Wall Street Zen raised shares of KeyCorp from a “sell” rating to a “hold” rating in a report on Monday, April 21st. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a report on Wednesday, July 2nd. Finally, Wells Fargo & Company increased their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.18.

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.