Amalgamated Bank Acquires 25,392 Shares of KeyCorp (NYSE:KEY)

Amalgamated Bank raised its stake in shares of KeyCorp (NYSE:KEY) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,938 shares of the financial services provider’s stock after buying an additional 25,392 shares during the period. Amalgamated Bank’s holdings in KeyCorp were worth $3,743,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cornerstone Wealth Management LLC raised its holdings in KeyCorp by 6.3% in the 4th quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock worth $178,000 after acquiring an additional 732 shares during the period. UMB Bank n.a. increased its stake in shares of KeyCorp by 2.5% in the fourth quarter. UMB Bank n.a. now owns 34,090 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 841 shares during the period. PL Capital Advisors LLC lifted its position in shares of KeyCorp by 1.7% during the 3rd quarter. PL Capital Advisors LLC now owns 54,900 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 900 shares during the last quarter. AHL Investment Management Inc. boosted its stake in KeyCorp by 1.8% during the 4th quarter. AHL Investment Management Inc. now owns 51,288 shares of the financial services provider’s stock valued at $739,000 after purchasing an additional 900 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in KeyCorp by 15.8% in the 4th quarter. Global Retirement Partners LLC now owns 6,592 shares of the financial services provider’s stock valued at $92,000 after buying an additional 901 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Price Performance

NYSE:KEY opened at $15.07 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The firm has a market cap of $14.21 billion, a PE ratio of 19.08 and a beta of 1.28. KeyCorp has a 12 month low of $8.73 and a 12 month high of $15.86. The company’s 50-day moving average price is $14.90 and its two-hundred day moving average price is $13.81.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue was down 10.6% compared to the same quarter last year. On average, equities analysts anticipate that KeyCorp will post 1.15 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.44%. KeyCorp’s payout ratio is presently 103.80%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Argus increased their price target on shares of KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company boosted their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Wedbush reduced their target price on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. lifted their target price on KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.71.

Insider Activity

In related news, insider Angela G. Mago sold 3,405 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the transaction, the insider now owns 214,630 shares in the company, valued at approximately $3,056,331.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Trina M. Evans sold 12,335 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.23, for a total value of $175,527.05. Following the completion of the transaction, the director now owns 81,622 shares in the company, valued at approximately $1,161,481.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the sale, the insider now directly owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,442 shares of company stock worth $303,914. 0.67% of the stock is owned by corporate insiders.

About KeyCorp

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.