KeyCorp $KEY Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. cut its holdings in shares of KeyCorp (NYSE:KEY) by 15.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 276,600 shares of the financial services provider’s stock after selling 49,800 shares during the period. Intact Investment Management Inc.’s holdings in KeyCorp were worth $4,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in KEY. Dakota Wealth Management raised its stake in shares of KeyCorp by 2.2% during the 2nd quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock valued at $477,000 after buying an additional 586 shares during the last quarter. Bryn Mawr Trust Advisors LLC grew its holdings in KeyCorp by 4.8% during the second quarter. Bryn Mawr Trust Advisors LLC now owns 13,363 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 608 shares during the period. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in KeyCorp by 2.9% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 639 shares during the period. Amalgamated Bank raised its position in KeyCorp by 0.4% during the second quarter. Amalgamated Bank now owns 187,940 shares of the financial services provider’s stock valued at $3,274,000 after acquiring an additional 683 shares in the last quarter. Finally, Greenleaf Trust lifted its holdings in 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 acquiring an additional 691 shares during the period. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Price Performance

Shares of NYSE KEY opened at $20.50 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a fifty day moving average of $17.99 and a 200 day moving average of $17.91. The firm has a market cap of $22.40 billion, a PE ratio of 25.30, a PEG ratio of 0.60 and a beta of 1.11. KeyCorp has a one year low of $12.73 and a one year high of $20.67.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.03. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company’s revenue for the quarter was up 172.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.47) earnings per share. As a group, research analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Tuesday, December 2nd will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, December 2nd. KeyCorp’s payout ratio is presently 101.23%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. The Goldman Sachs Group restated a “positive” rating on shares of KeyCorp in a research report on Wednesday. DA Davidson boosted their target price on shares of KeyCorp from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. Evercore ISI increased their price target on shares of KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. TD Cowen raised shares of KeyCorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Tuesday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of KeyCorp in a research note on Monday. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.91.

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.