Continental Investors Services Inc. Takes Position in KeyCorp (NYSE:KEY)

Continental Investors Services Inc. acquired a new stake in shares of KeyCorp (NYSE:KEY – Get Rating) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,352 shares of the financial services provider’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Advisor Networks LLC grew its stake in KeyCorp by 37.9% during the first quarter. Cetera Advisor Networks LLC now owns 12,740 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 3,504 shares in the last quarter. Sei Investments Co. grew its stake in KeyCorp by 12.9% during the first quarter. Sei Investments Co. now owns 1,183,502 shares of the financial services provider’s stock valued at $26,543,000 after acquiring an additional 135,193 shares in the last quarter. Aviva PLC grew its stake in KeyCorp by 177.0% during the first quarter. Aviva PLC now owns 525,009 shares of the financial services provider’s stock valued at $11,750,000 after acquiring an additional 335,457 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in KeyCorp during the first quarter valued at $38,000. Finally, Allianz Asset Management GmbH grew its stake in KeyCorp by 10.6% during the first quarter. Allianz Asset Management GmbH now owns 212,557 shares of the financial services provider’s stock valued at $4,757,000 after acquiring an additional 20,384 shares in the last quarter. 82.11% of the stock is currently owned by institutional investors.

Insider Activity at KeyCorp

In related news, Director Ruth Ann M. Gillis acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average price of $12.95 per share, for a total transaction of $25,900.00. Following the acquisition, the director now directly owns 42,961 shares of the company’s stock, valued at approximately $556,344.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ruth Ann M. Gillis acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average price of $12.95 per share, for a total transaction of $25,900.00. Following the acquisition, the director now directly owns 42,961 shares of the company’s stock, valued at approximately $556,344.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Amy G. Brady sold 45,000 shares of KeyCorp stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $15.58, for a total transaction of $701,100.00. Following the sale, the insider now owns 119,121 shares of the company’s stock, valued at approximately $1,855,905.18. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

KeyCorp Price Performance

KEY stock opened at $11.53 on Friday. KeyCorp has a 12 month low of $9.60 and a 12 month high of $24.62. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average price of $17.81 and a 200 day moving average price of $17.64. The stock has a market cap of $10.74 billion, a PE ratio of 6.01, a P/E/G ratio of 1.03 and a beta of 1.31.

KeyCorp (NYSE:KEY – Get Rating) last announced its quarterly earnings data on Thursday, January 19th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.17). KeyCorp had a net margin of 22.46% and a return on equity of 15.27%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the business earned $0.64 EPS. Equities research analysts anticipate that KeyCorp will post 1.99 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Monday, February 27th. This represents a $0.82 dividend on an annualized basis and a yield of 7.11%. KeyCorp’s payout ratio is 42.71%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Piper Sandler raised shares of KeyCorp from an “underweight” rating to a “neutral” rating and cut their target price for the company from $18.50 to $16.50 in a research note on Friday, March 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of KeyCorp from $23.00 to $20.00 in a research note on Friday, January 6th. JPMorgan Chase & Co. dropped their price objective on shares of KeyCorp from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Monday, January 23rd. Odeon Capital Group cut shares of KeyCorp from a “buy” rating to a “hold” rating in a research note on Monday, March 13th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of KeyCorp from $20.00 to $19.00 and set a “market perform” rating for the company in a research note on Wednesday, March 8th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp currently has a consensus rating of “Hold” and an average price target of $19.87.

KeyCorp Company Profile

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KeyCorp is a bank holding company, which engages in the provision of financial services. It provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.