Merit Financial Group LLC Acquires Shares of 10,098 KeyCorp (NYSE:KEY)

Merit Financial Group LLC bought a new position in shares of KeyCorp (NYSE:KEY) in the fourth quarter, HoldingsChannel reports. The firm bought 10,098 shares of the financial services provider’s stock, valued at approximately $145,000.

Several other hedge funds have also modified their holdings of the business. Bruce G. Allen Investments LLC acquired a new position in KeyCorp during the fourth quarter worth $26,000. Sound Income Strategies LLC boosted its position in shares of 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 purchasing an additional 1,836 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in shares of KeyCorp during the 3rd quarter worth $28,000. Baldwin Brothers LLC MA purchased a new position in shares of KeyCorp in the 4th quarter valued at about $35,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of KeyCorp by 195.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,763 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction dated Monday, February 12th. The stock was 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 owns 214,630 shares in the company, valued at approximately $3,056,331.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other KeyCorp news, CAO Douglas M. Schosser sold 3,326 shares of KeyCorp stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the transaction, the chief accounting officer now owns 19,795 shares in the company, valued at approximately $277,130. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following 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 have sold 21,442 shares of company stock worth $303,914. 0.67% of the stock is owned by company insiders.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $15.07 on Friday. The company has a 50-day simple moving average of $14.90 and a 200-day simple moving average of $13.81. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. The company 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.

KeyCorp (NYSE:KEY) last released 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). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The firm’s revenue was down 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 earnings per share. On average, equities analysts anticipate that KeyCorp will post 1.15 earnings per share for the current year.

KeyCorp Announces Dividend

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

Wall Street Analysts Forecast Growth

KEY has been the subject of a number of research analyst reports. Piper Sandler increased their target price on shares of KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, January 26th. JPMorgan Chase & Co. raised their price objective on KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. DA Davidson decreased their target price on KeyCorp from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, January 19th. Argus upped their target price on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods lifted their price target on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.71.

KeyCorp 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.