Mackenzie Financial Corp Acquires 275,459 Shares of KeyCorp (NYSE:KEY)

Mackenzie Financial Corp grew its holdings in shares of KeyCorp (NYSE:KEY) by 24.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,412,114 shares of the financial services provider’s stock after acquiring an additional 275,459 shares during the period. Mackenzie Financial Corp’s holdings in KeyCorp were worth $20,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Canada Pension Plan Investment Board bought a new stake in KeyCorp during the first quarter valued at about $38,000. Point72 Hong Kong Ltd bought a new position in shares of KeyCorp during the 1st quarter valued at approximately $40,000. Bruce G. Allen Investments LLC purchased a new stake in KeyCorp in the 4th quarter worth approximately $26,000. Sound Income Strategies LLC raised its stake in KeyCorp by 3,600.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,836 shares during the period. Finally, Baldwin Brothers LLC MA purchased a new position in KeyCorp during the fourth quarter valued at approximately $35,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Stock Performance

Shares of NYSE:KEY opened at $14.39 on Friday. The firm has a fifty day simple moving average of $14.67 and a two-hundred day simple moving average of $13.35. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $13.35 billion, a P/E ratio of 16.17 and a beta of 1.29. KeyCorp has a 52 week low of $8.53 and a 52 week high of $15.86.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The company’s revenue was down 10.6% compared to the same quarter last year. On average, analysts expect that KeyCorp will post 1.17 earnings per share for the current fiscal year.

Insider Transactions at KeyCorp

In related news, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $46,564.00. Following the sale, the chief accounting officer now owns 19,795 shares in the company, valued at approximately $277,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Douglas M. Schosser sold 3,326 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.00, for a total transaction of $46,564.00. Following the transaction, the chief accounting officer now directly owns 19,795 shares in the company, valued at approximately $277,130. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the completion of the sale, the insider now directly owns 98,120 shares in the company, valued at $1,376,623.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,442 shares of company stock worth $303,914. 0.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Raymond James started coverage on shares of KeyCorp in a research note on Monday, January 8th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. boosted their price objective on KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Wells Fargo & Company increased their target price on KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Piper Sandler lifted their target price on KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Finally, Wedbush dropped their price target on KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.53.

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.