Kestra Advisory Services LLC Acquires 42,326 Shares of KeyCorp $KEY

Kestra Advisory Services LLC boosted its holdings in KeyCorp (NYSE:KEY) by 3.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,128,653 shares of the financial services provider’s stock after acquiring an additional 42,326 shares during the quarter. Kestra Advisory Services LLC owned 0.11% of KeyCorp worth $22,629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Maseco LLP purchased a new position in shares of KeyCorp during the fourth quarter worth about $27,000. DV Equities LLC bought a new stake in KeyCorp during the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC purchased a new position in KeyCorp in the 4th quarter worth approximately $30,000. Smithfield Trust Co purchased a new position in KeyCorp in the 4th quarter worth approximately $31,000. Finally, Kelleher Financial Advisors bought a new position in shares of KeyCorp in the 3rd quarter worth $32,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 22,826 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $21.66, for a total transaction of $494,411.16. Following the completion of the sale, the insider directly owned 281,564 shares in the company, valued at approximately $6,098,676.24. This represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

KeyCorp Trading Up 0.9%

Shares of NYSE KEY traded up $0.22 during mid-day trading on Friday, hitting $23.32. The stock had a trading volume of 11,117,303 shares, compared to its average volume of 10,283,393. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. KeyCorp has a 1 year low of $16.47 and a 1 year high of $23.72. The business has a 50 day moving average price of $22.13 and a two-hundred day moving average price of $21.44. The firm has a market cap of $25.17 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 0.73 and a beta of 1.02.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.93 billion. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 EPS. On average, equities analysts anticipate that KeyCorp will post 1.82 EPS for the current fiscal year.

KeyCorp announced that its board has authorized a stock repurchase program on Wednesday, May 13th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 13% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, June 2nd. KeyCorp’s dividend payout ratio is 50.31%.

Analyst Upgrades and Downgrades

KEY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of KeyCorp from $22.50 to $24.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Wall Street Zen cut KeyCorp from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Evercore restated an “outperform” rating on shares of KeyCorp in a research report on Tuesday, April 21st. Royal Bank Of Canada lifted their price target on KeyCorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Finally, DA Davidson upped their price objective on KeyCorp from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and an average target price of $47.34.

KeyCorp Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.